The Oil Market Jenga: New Moves, Old Risks

The massive JENGA puzzle commonly referred to as the Oil Market has seen several layers added on top in the last week.  Only to wake up today to a shaky  future.  Diesel pricing has jumped almost $.20 in the last week primarily due to what appeared to be ongoing trade talks between the US and China.  Inventories of finished diesel now sit at a 10 year low, outweighing sluggish demand figures.  What appeared to be a major step towards face to face meetings between Russia and Ukraine, have unraveled as Putin is not expected to be present.  The sudden reversal this morning comes on the heels that we might be our stance softening on Iran and Syria.  Earlier this week, the US said it would invest in Syrian banking and  infrastructure along with removing all sanctions should they join the Abraham Accords, which seeks peace with Israel and other Nations.   In an about face, Iran said it would abandon Uranium enrichment projects should the US lift their sanctions.  With several Middle East Nations now on the books to invest in American companies, a major block of the Presidents recent tour, could it lead to some normalcy in market?  Demand and Inflation, which appears to be steady, will be the other two blocks holding up the tower.