Oil's climbing again. Here's what's pushing it: peace talks in Ukraine have hit a wall, and meanwhile Beijing just signaled fresh commitment to economic growth—both giving markets reason to bid prices higher. But here's the catch: traders are still haunted by the specter of oversupply hitting the global market. So you've got this tug-of-war playing out in real time. Geopolitical tension tightening supply, demand signals from major economies suggesting appetite might pick up, yet the lingering anxiety about too much crude sloshing around keeps the upside contained. It's classic macro noise—the kind that usually spills over into broader markets. For those watching portfolio exposure, this one's worth tracking. Supply concerns don't vanish overnight, and neither do growth narratives.