Oil up again!

Show notes

US inflation came in line with expectations, but markets found little comfort in the data. Oil prices surged despite the International Energy Agency’s announcement that it would release a record 400 million barrels from strategic reserves. Instead of calming markets, the move reinforced concerns that the Middle East conflict could drag on, tightening global energy supply and keeping inflation pressures alive.
With global oil demand exceeding 100 million barrels per day, the planned release would only cover a few days of consumption. As crude prices climb, investors are reassessing central bank expectations, bond yields are rising, and the US dollar is strengthening against most major currencies.
Meanwhile, equity markets are increasingly vulnerable to a global meltdown as mounting risks—from energy disruptions and inflation pressures to private credit stress and growing uncertainty around AI investment – weigh on appetite.

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Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.