Oil prices went on a wild ride last year. Brent, which is the global oil price benchmark, surged nearly 30% to a four-and-a-half-year high of more than $85 a barrel by early October before the bottom fell out of the oil market. Brent would go on to crash 40% from that high to a low near $50 a barrel, putting it down more than 24% for the year.
Several factors drove the big swing in oil prices last year. Those same issues, as well as others, pose a big threat to oil markets in 2019. Here’s a look at what could cause volatility to continue in the oil patch this year.
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