Post #16143

Oil, and Many Other Assets Are Tricky Right Now Oil is getting hit from both sides right now — fundamentals and headlines — and they’re not fully aligned. On the data front, crude inventories unexpectedly built by ~1.9M barrels, with increases at Cushing and a slight slowdown in refinery activity. That leans bearish on the surface. But underneath, product demand is telling a different story — gasoline and distillates saw much larger-than-expected draws, signaling consumption is still holding up. Now add in the geopolitical layer. Headlines keep flip flopping — ceasefire extensions, talks potentially happening as soon as Friday, but no firm commitment yet. That uncertainty is translating directly into price action, with sharp, reactive moves across oil and broader markets. Pretty annoying imo Fundamentals and headlines are contradicting each other, making a clean directional call difficult. A lot of people are sitting on their hands right now, waiting for clearer confirmation before stepping in. - Alan