Mid-July saw the oil market hold its breath. The second week was caught in a storm of volatility, like strong winds over still waters. Triggering a chaotic dance of the barrels that left traders uncertain and markets adrift.

Prices swayed like the waves… Brent hovered near the $70 mark while WTI neared $68… both suspended in uneasy anticipation. 

But in the Oil games, it’s not all about supply and demand; uncertainty is also a key.

From geopolitical clouds, the spark came: Kurdistan unleashed strikes, Syria lit up under Israeli bombardments, and Trump threatens Moscow with a 50-day ceasefire!! Meanwhile, a looming tariff war brews with 30% duties on EU and Mexican goods slated for August 1st…

In this climate, conflict tightens supply. Every barrel becomes a bargaining chip.

While demand remains resilient, hope and anxiety now move in tandem. And so, oil traders keep watching cautiously and restlessly as the dance of the barrels continues across a trembling global stage.