Oil Volatility Hits 103 — Global Panic Builds

King of fear

Oil volatility is ending the week on a high note, with the OVX at 103. You know things are seriously stressed when the VIX explosion looks tiny in comparison.

JPM’s Natasha Kaneva sums up the short-term oil setup well: “Prices may decline by $10 on reassuring headlines, but they could rise by $30 once Gulf production shut-ins begin to materialize and ripple through the market.” Go price that option...