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Oil has a war and inflation hedge premium, but those aren’t permanent.

The oil market is difficult to predict in a conventional environment and is impossible to predict during a war. At the moment, there are two significant wars taking place: one between Russia and Ukraine and one between global central banks and inflation. The result of the political and economic turmoil has been an unprecedented amount of energy market volatility and shocking moments of illiquidity as traders react to tight energy supplies and attempt to hedge inflation.

Read more: Is the upside in oil futures limited? Our analysis on Mad Money

Futures and options broker, Carley Garner, visited the FACE webinar with Dale Pinkert to discuss commodity markets such as corn, soybeans, gold, silver, crude oil, and currencies. 

Jim Cramer and Carley Garner went off the charts discussing the S&P 500, NASDAQ 100, and the VIX.

There are a lot of reasons to be bearish stocks, but those stories have been circulating for months. For instance, the Fed’s dramatically hawkish stance triggered a bond market calamity and the Russian invasion of Ukraine put flames on the inflation fire while dramatically increasing geopolitical risks. Further, we’ve witnessed never-ending lockdowns in China. While we don’t know what we don’t know, investors have had plenty of time to digest the current news cycle and react accordingly. Yet, thus far the S&P 500 correction has been well within the lines in regards to historical pullbacks which tend to average about 13%. We are also getting into the heart of earnings season which could act as a stick save to the market (markets in a trough tend to find support from quarterly earnings) and seasonality is overall supportive. Throughout history, the market has put in some significant bottoms in March; so far we are holding the march 2022 lows but the jury is still out.

Read more: DeCarley stock market chart analysis on Mad Money

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Futures and options broker, Carley Garner, discussed energy market volatility, OPEC's plan for oil, and currency correlations on the TD Ameritrade Network with Ben Lichtenstein.