Been watching oil get hammered lately. WTI dropped below $66 and Brent hit levels we haven't seen since late 2021. Both have basically wiped out their yearly gains at this point. The pressure is real—demand forecasts keep getting cut, especially with China's economy struggling and everyone switching to cheaper natural gas.

If you're looking to play the downside, inverse oil ETFs like SCO have been printing gains on these moves. WTID too. They're up solid when crude gets hit like this. The thing is, OPEC keeps being overly optimistic about demand recovery while the EIA and IEA are way more bearish. There's a real disconnect there.

Wall Street's getting pessimistic too. Summer driving season is done in the US and Europe, China's still weak. Even the tropical storm situation doesn't look like it'll prop prices up. Interesting setup if you think oil stays under pressure for a bit longer.