A Supply Scare Can Add Fuel to Brent Downtrend - What will end crude's downtrend may be a top commodity question of 2026. A supply scare that spikes prices might fuel more of the same -- US-led Western Hemisphere production surpluses. A leading candidate to enhance the bear market might be a short-cleansing price spike. Hedgers could be waiting to pounce. At $71 a barrel on Feb. 19, Brent crude is bumping up against its downward-sloping 100-week moving average, and hedge funds are relatively long compared with 2025. Backwardation becoming normal is an indication of producer hedging, and responsive selling should be expected -- notably because that's been the trend. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tar869kgzaky {BI COMD} #crudeoil @markets(Mike McGlone)