Thoughts on Energy vs. Rates & Currency Swings

Been watching the energy space pretty closely lately, particularly with all the chatter around inflation and central bank moves. It's interesting how quickly the narrative can shift. One minute, we're talking about rate cuts and economic slowdowns, and the next, demand projections for oil seem to firm up again. I'm thinking about how the current strength in the dollar, especially against some of the crosses like $EURCHF, which is sitting around 0.93611, might start playing into global oil demand, or at least the perception of it. Cheaper oil in local currency terms could spur some demand, but then higher borrowing costs globally might mute that.

It feels like a real tug-of-war. On one hand, you have the underlying supply concerns, then you've got macro headwinds from rates and currency volatility. I'm trying to figure out which force is going to dominate the WTI and Brent narrative heading into the summer months. Are we looking at a sustained push higher if central banks pause, or will the weight of higher for longer rates eventually drag things down? Curious to hear how others are framing this setup for their own watchlists.