WTI is back in the green.
Oil rebounded about 2%, with WTI trading near $63.7 after yesterday’s pullback, as fresh Russia–Ukraine tensions shook markets. Peace talks in Geneva ended abruptly, with Ukrainian President Volodymyr Zelenskiy calling discussions difficult, while Russia signaled another round ahead.
Adding to the geopolitical risk premium, Iran and Russia are set to hold joint naval drills in the Sea of Oman and northern Indian Ocean.
Traders are now turning to U.S. inventory data. The American Petroleum Institute report is due today, followed by the Energy Information Administration numbers tomorrow. Expectations point to a crude build, but potential draws in gasoline and distillates could keep volatility elevated.
Geopolitics + inventories = short-term direction. Stay sharp.
