10/08/2024
The DeCarley Perspective...Quick thoughts on oil and implied volatility.
Thus far, we haven’t seen any meaningful supply disruptions due to recent events in the Middle East. The overreaction is likely more of a short covering event than a fundamental game-changer. The oil market and market participants adopted a sell-the-rally mentality in 2024; as prices fell into the mid-$60.00s, speculators held one of the most minor net long positions in decades. Quick thoughts on oil and implied volatility.