WTI Crude Price Jumps 18% in Two Weeks Before Sudden Crash

WTI crude prices have experienced significant volatility in recent weeks, according to Mohamed A. El-Erian, president at Queens' College, University of Cambridge. Over a two-week period, WTI crude rose by 18% from $78 to $93 before plummeting back down to $79.

This dramatic swing creates challenges for those planning government, corporate, or household budgets, as mentioned by El-Erian. The sharp fluctuations in oil prices highlight the difficulties of predicting market movements and the impact on financial planning.

El-Erian's comments come from his recent discussion on CNBC's Squawk on the Street, where he touched on trends in the U.S. economy and markets amidst heightened U.S., Iran tensions.