Oil is trading like a meme stock, some analysts say.

Oil was slightly higher as traders expect a group of countries to tap emergency crude reserves to mitigate disruption caused by the war in the Middle East.

Meanwhile, the market shrugs at news of a record emergency release of oil.

Oil is trading like a meme stock, some analysts say.

Energy markets remain on tenterhooks as the prospect of prolonged war in the Middle East grows.

Three words spooking the market.