The April crude oil contract was down US$11.32 at US$83.45 per barrel
April crude contract spiked to nearly US$120 before easing to under US$95
Latest jobs numbers, energy prices and other economic indicators moving in wrong direction
Prices moderate on report that some G7 nations may release some of their strategic reserves
Market reversal comes late in the day on hopes Iran War will be shortlived
On Thursday, the price of oil spiked to its highest level since the summer of 2024
Fears of a drawn-out Middle East conflict are driving a risk-off sentiment in stock markets
The price of crude oil was up 4.7% on Tuesday
Airline stocks lost altitude while defence, Big Tech stocks rose
Meanwhile, oil prices rose on geopolitical fears