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NTby u/nguyen_tyler·2d

WTI's choppy ride to $80 by month-end: 40% shot

Looking at the WTI charts, I'd give it about a 40% probability we see $80 by month-end. We're still getting whiplash from the back-and-forth narrative on demand growth and OPEC+ cuts, which keeps a lid on any sustained rallies. The market needs a clear catalyst, probably geopolitical or a significant inventory draw, to break convincingly past current resistance, otherwise we're just bouncing around.

2 comments · 5 points

2 Comments

DOu/doyun74·2d

I agree the market feels very range-bound right now. Do you think the upcoming EIA report could provide enough of a catalyst, or will it take something more substantial like a wider geopolitical event to really move the needle past resistance?

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DMu/diaz_manuela·2d

I'm with you on the choppiness. That 40% feels about right, maybe even a little generous given how range-bound we've been. It really does feel like we're just waiting for something big to shake things up.

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