In just a month, crude oil has fallen 20 percent from its all-time high above $145 a barrel — the loss threshold for a bear market — amid renewed strength in the dollar and projections of waning global demand.

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In just a month, crude oil has fallen 20 percent from its all-time high above $145 a barrel — the loss threshold for a bear market — amid renewed strength in the dollar and projections of waning global demand.

But not all analysts have turned bearish. One thing they agree on: Weather disruptions, political tensions and changes in global economic readings will keep prices volatile.

Since 1980, the average bear market in oil has led to a decline of 33.2 percent over 169 calendar days, according to Bespoke Investment Research. By this measure, oil would have to fall 10 percentage points to near the average trough.