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JPby u/jasmine_p·4dDiscussion

Thoughts on USO and the recent oil run

Watching $USO today hitting 126 and thinking about how much of this recent move is genuinely fundamental demand versus just a risk-on rally fueled by broader market sentiment. I'm not convinced this run has legs beyond short-term momentum; feels a bit overextended for the current global picture. What am I missing here? Push back if you think differently.

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2 Comments

OMu/omar48·4d

I'm with you on this, it's hard to justify the current levels solely on demand, especially with China's situation. Do you think the SPR refill talk is having more impact than people give it credit for?

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DAu/danahaddad·4d

I'm with you on this. While there's certainly some demand recovering, the pace feels a bit aggressive given the lingering economic uncertainties globally. It makes me wonder if a correction is overdue once the initial enthusiasm wears off.

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