UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry

Iran's Supreme Leader Floats More US Talks In Rare Overture; Oil Prices Tumble Update(0855E): Oil is tumbling in the wake of a somewhat rare headline out of Tehran Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reportsOIL FALLS TO INTRADAY LOW, BRENT TRADES NEAR $106/BBLThis marks some of the most significant confirmation yet that the Supreme Leader - who has been in hiding and not seen in public since the assassination of his father upon the opening of Operation Epic Fury - is...

Morgan Stanley: Oil Traders Are "More Precise" With Risk As Wars Drag On By Michael Kern of OilPrice.com Uncertainty about how the wars in Iran and Ukraine will unfold is keeping many traders away from taking positions in longer-dated futures contracts, according to Morgan Stanley. Most traders have now moved to bet on futures prices within a three to six-month period, instead of longer-dated futures contracts, as volatility has spiked and uncertainty has grown regarding where the wars are going and how much they would continue to impact the global oil market. “People...