The bots behind oil's wild ride

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Dec. 1, 2023

Illustration: Joseph Gough

Read the story In the past two months, US crude-oil prices threatened to reach $100 per barrel, only to whipsaw into the $70s. On one day in October, they swung as much as 6%. So far in 2023, futures have lurched by more than $2 a day 161 times, a massive jump from previous years. What's behind all that volatility? Traders are pointing to an opaque group of algorithmic money managers known as commodity trading advisors. Read The Big Take.

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