Looking Back At An Exceptionally Volatile Year For Energy Prices

The year 2022 was one of the most volatile we have ever seen in the energy markets. Oil prices have been extremely volatile in the past, but in 2022 natural gas prices, gasoline prices, and diesel prices all swung wildly — and sometimes out of sync with each other. When the year began, according to the Energy Information Administration (EIA) the price of West Texas Intermediate (WTI) crude oil was $75.99/bbl. WTI closed the year less than 6% higher at $80.47/bbl. But during the year, WTI went on a wild ride.There were two primary culprits…