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Oil Price News: WTI Jumps as Iranian Tensions and Short Covering Fuel Rally
fxempire.com

Oil Price News: WTI Jumps as Iranian Tensions and Short Covering Fuel Rally

Oil prices surged last week as geopolitical risk linked to Iran intensified and speculative positioning adjusted, pushing the curve back into backwardation. While supply constraints and OPEC+ delivery issues continue to underpin prices, rising onshore storage and upcoming U.S. inventory data present clear downside risks should the risk premium fade.

Oil Price News: Why WTI Is Set Up for a $65 Squeeze
fxempire.com

Oil Price News: Why WTI Is Set Up for a $65 Squeeze

Speculators are caught short as the ‘glut' quietly drains away. With Venezuela drawing floating barrels, the risk of an Iranian attack rising, a polar vortex hitting US supply and China and India absorbing crude, it is clear that the surplus is increasingly offshore.