Global crude oil markets are entering a phase where volatility may become the new normal.

Demand is still holding stronger than many expected, especially from developing economies, while supply remains sensitive to geopolitical tensions and production cuts.

What makes this cycle interesting is that energy transition narratives continue growing, yet the world still depends heavily on oil for transportation, manufacturing, and trade.

I think the next few years won’t be about permanently high or low prices, but about rapid shifts driven by policy decisions, conflicts, inflation, and global growth expectations.

Commodities overall are starting to regain importance in macro discussions, and crude oil remains one of the clearest indicators of how fragile and interconnected the global economy still is.

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