# Oil prices bubble then implode | Reuters

> Oil prices spiked and then crashed in March 2022, driven by medium-term fundamentals, strain from disruption to Russian oil exports, and thin market liquidity. The short-term trigger for the sell-off was improved prospects for a truce between Russia and Ukraine.

- Date: 2022-03-17 · published 2022-03-17T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/5991-oil-prices-bubble-then-implode-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Extreme crude volatility transmits directly into diesel and energy costs for feed mills and farms, and a Russia-Ukraine truce would ease supply fears that had supported grain and oilseed prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-14 | 5 | -19.6% | -4.8 | The sell-off was triggered by improved truce prospects and aggravated by thin liquidity, explaining the sharp collapse. |
| BRENT | 2022-03-15 | 5 | -21.1% | -5.6 | Explains the crash as unwinding of a spike on thin liquidity, with improved truce prospects as the trigger. |
| WTI | 2022-03-14 | 5 | -18.4% | -4.5 | The sell-off was attributed to improved truce prospects and thin liquidity, which amplified the downward move. |
| WTI | 2022-03-21 | 5 | +16.7% | 3.1 | The mid-March sell-off on truce hopes created the depressed starting level, so the following rebound was large in percentage terms. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +17.0% | +4.7% |
| WTI | 2026-03-22 | [Oil prices plunge 11% on US-Iran talks to resolve hostilities in the Middle East \| Reuters](https://feedsoft.ai/events/8153-oil-prices-plunge-11-on-us-iran-talks-to-resolve-hostilities-in-the-middle-east.md) | +2.2% | -8.1% |
| WTI | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -2.3% | — |
| WTI | 2026-05-05 | [Oil prices slide on reports US and Iran are nearing peace agreement \| Reuters](https://feedsoft.ai/events/9579-oil-prices-slide-on-reports-us-and-iran-are-nearing-peace-agreement-reuters.md) | -7.6% | -11.4% |
| WTI | 2026-10-29 | [Oil Prices Decline](https://feedsoft.ai/events/1438-oil-prices-decline.md) | -2.3% | — |
| BRENT | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +15.1% | +0.4% |
| BRENT | 2026-03-22 | [Oil prices plunge 11% on US-Iran talks to resolve hostilities in the Middle East \| Reuters](https://feedsoft.ai/events/8153-oil-prices-plunge-11-on-us-iran-talks-to-resolve-hostilities-in-the-middle-east.md) | +1.5% | -13.8% |
| BRENT | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -5.4% | — |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-bubble-then-implode-kemp-2022-03-17/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.