Thinking through the energy play given recent CPI data

Been mulling over the implications of that latest CPI print for a few days now, especially how it's shaping up for commodities, particularly energy. The 'higher for longer' narrative for rates seems to be really digging in, and I'm trying to figure out how that flows through to demand-side pressures.

On one hand, if the economy continues to slow under the weight of these rates, you'd expect some dampening effect on oil demand. But then you have the supply side, which is always a bit of a wildcard, and geopolitical factors are never far from the surface. I've been keeping a close eye on the $BOTZ ETF, which had a bit of a rough day yesterday, closing down around 2.82% at $35.87, after trading between $35.715 and $36.35. While not directly an energy play, it's interesting to see how tech and automation plays are reacting to the broader economic sentiment. For my commodities watchlist, I'm leaning towards a bit more caution on the long side for crude until we get clearer signals on demand destruction versus any potential supply shocks. Might be a good time to just watch the price action around key levels and not try to catch any falling knives just yet.