Thoughts on WTI finding a floor around $75 by month-end

Hey folks, been watching WTI action pretty closely lately. We've seen a bit of a bounce from the lower $70s, but the $80 ceiling seems pretty firm right now. Looking at the broader picture, and considering demand concerns from China's property market woes contrasting with continued OPEC+ cuts, it feels like we're settling into a bit of a range.

My take is there's a good chance, maybe around 60%, we'll see WTI establish a more solid floor around the $75 mark by the end of May. The reasoning is a combination of inventory draws, albeit slight, in the US, and the ongoing geopolitical premium that just seems to keep a base under prices. However, if those demand fears truly materialize in the next few weeks, especially with a strong dollar, we could easily retest the $72 area. But for now, the path of least resistance for a consolidative bounce seems to point to $75 acting as a decent support level for the short term.