Why did oil spike so dramatically?

Over the weekend, the price of oil had its biggest intraday swing on record, bouncing between $84 and $119 per barrel in just 23 hours. Today on the show, Rob Armstrong and Katie Martin survey the wreckage, and try to figure out if the price of oil is driving policy in Washington. Also they go long neckties and Korean food crazes. 

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Read a transcript of this episode on FT.com

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