A few days ago, traders increased demand for oil, causing a $1 rise in oil prices. However, this increase in demand was not due to anything related to the oil industry, but rather a misunderstanding by the traders due to a tweet from the Israeli Defense Forces (IDF). Traders misunderstood the tweet, which was referring to a previous event in 1973 for something that was happening currently in Syria. This caused them to buy oil in case there a spike in oil prices.

There are two takeaways from this article:

1. Companies should focus heavily on securing their social media sites, so that they have not given access for such a powerful tool, to the wrong people.
2. The message being sent out to should be clear. A wrong tweet or post to the consumers can affect business drastically.

This article shows how social media has changed the market in today’s world and also demonstrates how a small misunderstanding can have big effects on the bottom lines of major companies. It illustrates the importance of social media in today’s world.