Why Oil Crashed Below $100

Reader Update: Oil prices have crashed back below $100 this week despite the ongoing war in Ukraine and a structurally tight market. To fully understand what is moving oil markets, make sure you sign up for Oilprice.com's premium service, Global Energy Alert.Chart of the Week- In spite of the IEA claiming that Europe could essentially halve its dependence on Russian gas imports within a year, March gas flows have so far averaged 30% higher than February.  - Leading oil majors Shell, BP, and Equinor announced they would not be trading…