Will We See A Return Of Triple Digit Oil This Year?

Oil prices have been stuck in a tight range since erasing the gains of the Russian invasion of Ukraine at the end of last year.  For most of last year, fears of a major oil supply shock from Russia dictated market sentiment and the positioning of traders. But oil prices didn’t surge even after the EU embargoes and the G7 price caps on Russian crude oil and petroleum products came into effect.   Russia is rerouting its oil exports to Asia, while Europe is buying more crude and products from the Middle East, Asia, and the United…