All Eyes on OPEC as Bearish Bias Remains Firm

Crude oil markets faced significant volatility this week, shaped by shifting geopolitical landscapes, evolving supply-demand balances, and key policy speculation within OPEC+. The combination of these factors resulted in fluctuating prices, with a bearish tilt into Tuesday’s close. Geopolitical Developments Erode Risk Premium This week, oil markets reacted sharply to geopolitical news, particularly the announcement of a ceasefire agreement between Israel and Lebanon, which aimed to de-escalate the conflict involving Hezbollah. The news spurred…