Oil's Boom-Bust Cycle Leaves Unhedged Traders Bloodied

Crude bounced 3% on July 8 after U.S. strikes on Iran, but the pattern matters more. Brent crude fell from $98 to below $70 in three weeks—a $28-barrel swing. Wednesday's spike mirrors the rhythm: escalation, swift de-escalation, repeat. Traders holding directional bets without hedges face losses either way.