Oil Rebounds After SVB Roils Markets

What's moving oil today? So let me just start off by saying oil markets have been very choppy this year It's been months since Europe sanctions on Russian crude and from what we can see Russian crude continues to flow to the market So that's alleviating some of the biggest fears of last year Which was a major disruption of oil supplies because of the Russia-Ukraine war So since then it looks like oil markets have been searching for some direction since We saw quite a dip from the SVB crash yesterday in oil but markets are back up I think it's important to note that the key themes that are dominating the market this year are concerns over aggressive monetary policies from the Fed as well as optimism over China's demand recovery and oil has been pretty much hanging in that tension between both factors We've seen bread moving in a pretty conservative range of less than ten dollars a year Ten dollars a barrel this year, which is quite a different scenario from the volatility we saw last year So yeah, this is more of the same we're seeing today So Elizabeth, you know, what sort of message are you getting from the market right now regarding sentin? What's the pulse? So there are signs that the outlook is set up for more bearishness ahead So OPEC in its latest report has said it expects a modest surplus in the next quarter as we move into a seasonal allow and demand And that surplus could be even bigger if Russian oil proves to be resilient to international sanctions There are the signs we see US stockpiles also up this week physical crude barrels are trading With some softness in the market So there are signs that we're headed for a bit of bullishness ahead.

Elizabeth Low, Haslinda Amin, OPEC, Oil, Oil production, Rishaad Salamat, oil demand, oil markets, oil prices, russia