There goes oil ...

Another day, another wild swing in crude.

Near noon on Tuesday, the price of West Texas Intermediate crude oil had spiked almost 2% to above $US53 a barrel.

The latest surge in oil comes as the commodity still looks for direction following the huge crash in oil prices seen during the last several months of 2014.

Here’s the latest chart.

NOW WATCH: Animated map of what Earth would look like if all the ice melted

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at