The aBP Weekly: Relief Rally, Then Another Oil Reality Check
- Felix Ouma
- Apr 2
- 3 min read
Markets spent this week moving from relief to caution and then back into uncertainty. Early optimism around possible de-escalation in the Middle East pushed oil lower and sparked a broad risk rally. But that mood did not last. By Thursday, crude had jumped back above uncomfortable levels after tougher rhetoric revived fears that the supply shock was not over after all.
That reversal mattered because oil is no longer behaving like a side story. It is once again shaping inflation expectations, rate thinking, and sector leadership all at once. In other words, this week was not just about headlines. It was about how quickly markets can reprice when energy volatility collides with an already fragile macro backdrop.
