- Oil is headed for a seventh weekly gain, the longest run since December
- WTI prices received a boost yesterday after the U.S. Energy Department said that it had no plans “at this time” to release the nation’s oil reserves
- A global energy crunch continues to roil markets in Europe and Asia
- WTI flipped to small rare call skew on Friday morning (Bloomberg)
- WTI’s 2nd-month 25-delta skew briefly crossed over to the call side for the first time since October 2019
- AEGIS notes that the crude oil forward curve is typically always in perpetual put-skew