
The crude oil market experienced price spikes in 2008, 2022, and Q1 2026. While explosive moves pushed prices above $100 per barrel, they more than halved following the 2008 and 2022 highs. While NYMEX crude oil futures prices remain near the current $100 pivot point after the latest rally, historical trading patterns suggest that a significant correction is eventually likely.
I concluded a March 13, 2026, Barchart article on crude oil with the following: