The oil market does seem to have a general air of acceptance as to its current predicament of being boxed in. One.
The underlying market dynamic has not changed. The oil market is being given every opportunity to ascend but it is reluctant to do so. In the Middle East last week’s US/UK strikes on Houthi rebels have not fulfilled the desired goal, quite to the contrary.
Our market is in a near state of paralysis or at least precariousness. It cannot be explained by the US remembering Martin Luther King yesterday because the tension in the current geopolitical hotspot of the world, the Red Sea and the Middle East is on the ascent.
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