The oil market is showing signs of exhaustion says Tyler Richey
The oil market is showing signs of exhaustion, says Tyler Richey
Oil prices end at highest since August 2022, then fall in electronic trading
The oil market is showing signs of “exhaustion in the squeezy, geopolitically fueled oil-market advance,” said Tyler Richey, co-editor at Sevens Report Research. West Texas Intermediate crude has climbed 41% month to date, according to Dow Jones Market Data. “That doesn’t necessarily mean more upside is out of the question,” just that the market is consolidating the unprecedented rally in U.S. oil prices since the start of March, Richey noted.
As far as the very-near-term price outlook goes, Richey said he “would push back on the idea that ‘the sky is the limit for oil prices'” for now. The most pronounced price gains have been concentrated in the spot month contracts, and that has yet to “spill over into longer-term contracts” beyond the end of 2026, he said.
Also, click here to view the full article published in MarketWatch on March 10th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.
If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.
To strengthen your market knowledge take a free trial of The Sevens Report.
Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.