Which surprises me to be honest consider precedent.
It would be about the first time oil didn't spike due to unrest in the ME.
If the SHTF I'll look back and consider that a bargain.
It didn’t spike after the initial assault in October too.
Traders anticipate the future.
As you’ve seen at the local gas station, oil is up quite a bit since New Years.
They were anticipating increased issues in Russia and the middle east.
Ironically, I pointed out in October that they were not trading as if a big war was coming. The OP and likeminded ignored it. If they had been paying attention, they would’ve noticed the rise since New Years and would’ve been pointing out for months that issues may be coming soon. But they’re not interested in trying to figure out what is going on. They’re interested in pushing an agenda.