Oil price volatility continues to dive, dropping to a three-year low as 2017 comes to a close. The CBOE Crude Oil Volatility Index (OVX) recently dipped below 20, a level not seen since the third quarter of 2014. CBOE Crude Volatility Index at a 3-year low Oil prices have been on a wild ride since the market downturn began in the middle of 2014, with several serious meltdowns followed by price rallies that often turned out to be fleeting. The twists and turns left oil traders fumbling for some direction, and the prevailing uncertainty caused the oil price volatility index to surge to highs not seen since the 2008-2009 financial crisis. However, since OPEC and its non-OPEC partners agreed to limit production a little more than a year ago, the OVX index fell dramatically, which is to say, oil price volatility dropped to levels not seen […]