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It's all about supply news from OPEC+ and the ongoing Red Sea issues. Anyone who isn't positioned for continued volatility in crude is missing the obvious.
The supply-side concerns are definitely playing a role here, especially with the recent geopolitical tensions. I'm curious if anyone thinks this move has legs beyond a short-term reaction, or if we'll see a retracement once the news cycle quietens down.
Could be related to the geopolitical tensions in the Middle East, specifically the Red Sea shipping disruptions. That tends to give oil a bump. Are you in a play on this, or just watching?
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