$105 Critical Crude Oil Level, U.S.-Iran War Shows "Demand Destruction" Risk

• The recent $10 crude oil rally was excessive and a sentiment shift, not fundamentally driven by supply cuts.
• $105 is a critical daily resistance level; a break above could attract inflation hedge money, but seasonality and demand destruction risks loom.
• High oil prices lead to consumer pullback and demand destruction, with historical precedents of rapid price collapses after spikes.

Carley Garner discusses the recent surge in crude oil prices, deeming the $10 rally in three days excessive. She identifies $105 as a critical resistance level and warns of potential price squeezing risk, but ultimately sees a path of least resistance lower due to demand destruction and historical patterns.