Geopolitical pressure continues to drive most of the volatility, along with the impact of tariff-related activity, the analysts noted. In the near term, markets will be focused on the Organization of the Petroleum Exporting Countries and allied producers as a Thursday meeting approaches where members will discuss plans to bring voluntary production back online next month, the analysts said.
As a result of the prevailing uncertainty, there appears to be no continued direction for trades in the energy sector as well as in the broader market. The analysts said investors may remain cautious as they await more certainty, but Truist continues to believe a rebound in the energy sector will continue as oil prices remain better than expected.
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