Oil's Whipsaw Cycle Crushes Unhedged Traders

Crude bounced 3% on July 8 after U.S. strikes on Iran, but the real story is the pattern. Brent hit $98 on June 8, then plummeted below $70 by late June—a $28-barrel round-trip in three weeks. Wednesday's spike mirrors the rhythm: escalation, sharp de-escalation, repeat. Traders caught holding directional positions without protection face losses either way. The conflict's half-life keeps compressing.