Oil market dynamics in 2023 are a far cry from what was seen in 2022.
Whether the Fed pauses interest rate hikes when they meet again in May is likely to be a dominant conversation in the month ahead.
This may be seen as early steps toward moving at least some part of the oil trade away from trading in U.S. dollars.
The wheels of change are in motion as global alliances are shifting.
While Chinese President Xi Jinping concludes his visit to Moscow, Beijing has resumed imports of Australian coal, wine and lobster.
There are three ways to look at this volatility.
The much anticipated and hoped for Fed 'pivot' seems to be moving farther and farther out on the horizon.
The blowout January jobs report probably does make a central banker or two think twice about letting up on short-term rate hikes.
It never pays to be invested in a one-sided way for too long, at least as it pertains to commodities such as natural gas.
We're past the middle of the peak of winter and even assuming this cold weather spell, inventories should close the season very comfortably.