Oil Markets Await a Shift in Sentiment

Despite multiple bullish catalysts, oil prices remained stubbornly rangebound at the start of this week, with markets awaiting a notable shift in sentiment. - US gasoline futures have jumped sharply in the past two weeks, up more than 20% since the beginning of the year, as Red Sea disruptions, refinery force majeure events, and resurgent demand put the heat on fuel prices.- With US gasoline prices now 60% higher than at the time of the 2020 presidential election, the Biden administration will be looking warily at RBOB front-month futures…