India, March 11 -- No one knows how it happens. Indeed, no one wanted to, as almost everyone, including the ones who would be hurt by it, heaved a huge sigh of relief. Global crude oil prices first jumped by 40-50 per cent within 48 hours to $120, and then crashed unexpectedly to $90 within the next 24 hours. When the prices rocketed, like the Iranian missiles that hit oil wells, refineries, inventories, and gas supplies, the reason was the huge premiums due to the closure of the crucial Strait of Hormuz, which accounts for a third of the crude oil flows. When the price plummeted, although it remained quite high, an opposite explanation was forthcoming. The markets overreacted, and the dangers were not as severe as the traders believed. W...