WTI's March Range and OPEC+

Watching WTI closely here, given the recent consolidation. I'd put the odds of WTI trading consistently above $82/bbl by the end of March at around 40%. The geopolitical premium feels somewhat priced in, and while demand is firming, the current supply narrative from OPEC+ isn't screaming for significantly higher prices right now. There's certainly a chance of a supply disruption event, but absent that, I see a tougher grind through the $80-82 resistance. We're more likely to see it bounce within the $76-$82 range for the bulk of the month, with the lower end getting tested on any signs of demand softening or an unexpected increase in non-OPEC supply.