Oil Pares Gains After U.S. Unveils Russia Sanctions

The transcript discusses the current state of the oil market, highlighting that while some are uncomfortable with prices, sanctions have not pushed oil over $100. The market has taken a breather, with prices slightly decreasing. Despite this, many traders believe oil will eventually hit $100 due to backwardation and geopolitical premiums. The market remains tight, and any de-escalation could affect prices.

What do traders and analysts believe about the future of oil prices?

What factors are contributing to the tightness in the oil market?