Between May 22 and June 19, crude oil prices jumped nearly 20%. The spike started after Israel launched airstrikes on Iranian nuclear sites. But as geopolitical tensions cooled and a ceasefire began to seem likely, prices quickly returned to their baseline.
Data source: OilPrice.com
Tools used: AVA Data Visualization
Posted by sometimes-yeah-okay
4 Comments
“Stabilize “ is very different from “Return to baseline”. There hasn’t been nearly enough time to say that the prices are stable.
Those are the price of futures contracts which is why they fluctuate a lot.
Another pointless animation that makes it more difficult to understand the story in the data.
Interesting, but I’m not sure the animation helps. A better approach would be to compare the recent price fluctuations to past episodes of regional wars near major oil-producing sites.