Oil prices to remain firm - TDS

Analysts at TD Securities suggest that while a favorable shift in macro sentiment, in combination with a positive fundamental outlook, continues to see energy markets rally sharply higher off the lows, last November's multi-decade long record weakness has embedded extremely firm downside momentum signals.

Key Quotes

“This suggests that while we expect prices to remain firm as OPEC+ cuts make their way to US inventory data, CTAs will likely remain short for the time being.”