A sharp reduction in crude oil volatility levels and a flattening of the oil futures curve following recent gains in Brent crude and WTI oil prices point to a range-bound market over the near-term, analysts note. One-month implied volatility on WTI crude had declined from over 90% in mid-February to 48.4% on Wednesday. Brent volatility, meanwhile, had declined from 79% on February 22 to 44%.
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