Oil volatility jumped to its highest level in a month on Friday after a US drone strike in Baghdad killed Gen. Qassem Soleimani, Iran's top military commander. The flare-up in tensions between the US and Iran has sent traders into the market to cover risk, helping prices spike and awakening volatility in the process. Implied volatility, or the expectation of future price swings, had been lulled to its lowest point since April by a slowly but steadily rising price (OD Dec.23’19).
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