BMo

Husband, Father of 3, San Diego State Alumni, Teacher & Head Baseball Coach at Dinuba HS

[Jeffrey Currie 🆔++ @CommodMkt]

The real reason oil is below $100/bbl. It isn’t fundamentals. It’s capital aversion. Policy uncertainty has made oil too volatile to hold. Investor VaR has collapsed by c.$5B. Open interest is at the lowest level in years. Global oil stocks are still drawing 5-6mb/d; however, investors say they don't care.

Start with investor VaR - the best measure of how much capital is willing to engage with oil. It has collapsed to $1.4B (see chart). Not forced out by rising rates, sanctions or external margin calls. Investors are simply choosing not to hold. The policy noise - deal on/off, attack, not attack - has made the carry uncompensable.

VaR compression has one direct consequence: it drains open interest. Contracts are closed. Market depth disappears. 2026 YTD open interest decline is the worst on record. Unlike 2022, there’s no rates shock or sanctions forcing the exit. This is capital aversion.

Managed Money VaR and YTD OI Change

[BMo @BrentMorrelli]

@SVScholar 我会在 WhatsApp 上实时分享我的交易警报（进场点 & 出场点），免费加入

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[BMo @BrentMorrelli]

@SVScholar 我的策略计划:

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[BMo @BrentMorrelli]

@SVScholar 我会在 WhatsApp 上实时分享我的交易警报（进场点 & 出场点），免费加入

📷我的投资理财经验和见解 回复“777”到 WhatsApp：+ 85264608256

这里是链接 : https://t.co/b069mb8cua!!

[BMo @BrentMorrelli]

@SVScholar 我的策略计划:

👇

[BMo @BrentMorrelli]

@SVScholar 我会在 WhatsApp 上实时分享我的交易警报（进场点 & 出场点），免费加入

我的投资理财经验和见解 回复“777”到 WhatsApp：+ 13109257028

这里是链接 : https://t.co/0FxNWLt7IQ!!
"

[BMo @BrentMorrelli]

@SVScholar 我的理财策略!!!

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[BMo @BrentMorrelli]

$QBTS 不想在市场重新回暖时错过它

[BMo @BrentMorrelli]

The SpaceX IPO is set to leave other companies with nothing but scraps.

[BMo @BrentMorrelli]

Artificial intelligence models from companies such as Microsoft, Google, Meta, Amazon, and Oracle.

[BMo @BrentMorrelli]

@BaseballDudes48 DIY. Please!

[Dinuba Emperors Baseball @DinubaBaseball]

Former Emperor News:
Jesse Ortega class of 2021
First action in a game this season hits a pinch hit grand slam!
Keep Grinding @Jesseortega22

[BMo @BrentMorrelli]

@chuckbox1969 Congrats coach Box! Love to see you thriving as a coach. Always been a fan of what you do and what you’re about! Keep it rolling.

[BMo @BrentMorrelli]

Why in the world would they choose to use umpirecam for the whole game of the most important college baseball game up to this point!!!!!! C-Mon @espn @NCAABaseball

[BMo @BrentMorrelli]

@CrewDoak You guys do amazing stuff! I absolutely love your content and work. I’ve built several nail drags, but looking to build a new one. Would you be able to share your nail drag plans/pics. It looks like you have a really good one!

[Dinuba Emperors Baseball @DinubaBaseball]

Former Emperor Jesse Ortega

[BMo @BrentMorrelli]

@LHSempowered Legendary! Happy Birthday coach K.

[Michael Jimenez @MichaelJ36]

This man saved the day for the @TheJudge44 and @Batesole44 jersey number retirement celebration.

[MLB Trade Rumors @mlbtraderumors]

Braves Reinstate Dylan Lee From Injured List https://t.co/GUfHFkOLYL

[BMo @BrentMorrelli]

@MFox_15 Congratulations Fox Family!!!