Baytex Energy Corp T.BTE

Oil Volitility Index Hits Year Low

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If Oil fluctuates rapidly in a short period hitting new highs and lows is considered high volatility but if it moves slowly or stable is low volatility with it currently at 36%, for reference when Oil hit $120 in June oil volatility was at 44% close to the lowest during the rally on Oil before $120 and after $120 only changing in Nov giving Oil our current trading band of $72 - $82 so a lower volatility index is good for now as Oil waits for demand increases which everyone knows is coming and $90 Oil is expected by summer. The hopeful thing is that because of our market holiday overseas will be 2 trading days ahead as Oil trades Sunday night and Monday night before handing it over to us Tue so maybe Oil will have time to sell off if it's going to then rebound. I`m hoping that something changes stopping the Oil trend from hitting $73 but Wed could trip up Oil with FOMC Minutes but shouldn't be any new surprises and then we have to deal with API and EIA Oil Inventory I`m sure that there's no way that Oil will surpass 16Mil barrels so that could help. We were all aware that the first few months of China's reopening would be uncertain and we`re heading into March so this year is flying by already. Since China has opened its borders transportation from Air to Freight has taken off plus refining Oil products is also forging ahead I`m waiting for manufacturing to show improvements.



Oil Market Updates: Brent, WTI Crude Prices, Trends on February 16, 2023 - Bloomberg