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The chart below shows the price of oil ($ per barrel) between Feb 22 and Mar 7, 2022. FRED - Crude Oil Prices: West Texas

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The chart below shows the price of oil ($ per barrel) between Feb 22 and Mar 7, 2022. FRED - Crude Oil Prices: West Texas Intermediate (WTI) . Cushing, Oldlahoma 120 115 110 Dollars per Barrel 105 100 95 90 2022-02-22 2022-02-24 2022-02-26 2022-02-28 2022-03-02 2022-03-04 2022-03-06 Part (a) Explain the qualitative shift between February 22 and March 7 using standard supply and demand analysis

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