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The price action in the crude oil market over recent weeks has been nothing short of carnage. On January 8, as tensions between the US and Iran reached a boiling point, the price of nearby NYMEX crude oil futures rose to a high of $65.65 per barrel. At the same time, the Brent benchmark hit a high of $71.99 per barrel. On Sunday night, March 8, NYMEX futures hit a low of $27.34, with Brent falling to $31.25 per barrel. WTI futures fell 58.4%, with Brent down 56.7%. A combination of demand destruction because of