Oil gained back half of Fridays lossesOil was up due to Red Sea disruption but it seems to be no reason at all, Countries in recession, Japan, UK, Ireland, Finland with Germany in a shallow recession and Canada could see muted growth and even with the US it could see a mild recession this year but everything will pivot on the US inflation numbers vs rate cuts and then theres China growth problems so with all these factors why is oil rising with higher inventories being reported and US record high output in 2024? it has to do with everyone riding the US Stock Market bullish sentiment that the US resilient will pull the rest of the world with it but the FED seems to currently think different. Both the DOW and TSX stumbled today as tech takes a breather so everything now is waiting on the FED and how high oil will be pushed before a reality check happens only time will tell.