Oil prices fluctuate amid supply and demand uncertainty.

Despite concerns about demand and oversupply, analysts expect higher oil prices in the second half of the year due to tightening supply and increased demand during the driving season. The OPEC+ group's production cuts and the IMF's estimate of Saudi Arabia's breakeven oil price suggest that prices may not stay in the low to mid-$70s for too long. While sentiment remains negative, the market is expected to find support near March lows of around $70/bbl, and WTI Crude is expected to form a range above the mid-$70s to the mid-$80s if the macroeconomic backdrop doesn't completely deteriorate.