Oil Shorts Tumble as Bears Quickly Exit the Market

The video discusses recent trends in the oil market, highlighting a significant buildup in net lanes and a decrease in short positions. Joe Cusick from the CME provides insights into the market's risks, emphasizing robust demand and increasing production. He suggests that global demand could drive prices higher, despite potential challenges. The discussion also touches on future price levels for WTI and Brent, considering geopolitical factors.

What factors could lead to an increase in oil demand globally?

What price levels are being considered as potential challenges to the upside?