Oil's bounce and what it means for wider market today

Watching this $OIL move today, now up to $28.42. We've seen these little pops before, often on vague supply-side chatter, but it's not sustained if demand remains iffy. If it holds above this range, it could signal some broader risk appetite returning, or just a short-term squeeze. I'm keeping an eye on how it impacts transport and industrial names, but not jumping in yet.

The real test will be whether this is a dead cat bounce or actual momentum. A sustained push could change the macro narrative slightly, but I'm still leaning towards caution. Not convinced the market's fully digested the higher-for-longer rate sentiment, so any significant follow-through in oil would need serious volume and conviction.