The Oil ResetOil has suffered a violent reset. Positioning has rolled over, volatility has collapsed and markets are increasingly pricing a benign outcome in the Middle East. The problem is that the range of plausible outcomes remains enormous. When downside appears limited but geopolitical tail risks remain significant, owning some oil optionality starts to look interesting again.Big levels in oil
What If The Oil Market Is Wrong?
The market has aggressively priced out geopolitical risk, leaving oil sitting near major support. That makes the near-term downside appear relatively limited, while the upside remains highly sensitive to any disruption headlines.
60 words~1 min read
