KG: "Don't be Surprised" if Crude Retests $120, Explaining Market "Holding Pattern"

• February wholesale inventories (0.8% actual vs. -0.5% estimate) and trade sales (2.7% actual vs. 1.1% prior revised) came in better than expected, though considered less market-moving.
• PCE inflation remains sticky at 0.4% month-over-month and 2.8% year-over-year, with expectations for March CPI to be 'relatively hot' due to the Iran conflict's impact on energy and logistics.
• Crude oil prices are back above $100, driven by geopolitical tensions. If ceasefire talks break down, WTI crude could retest the $120 level.
• Gold is seeing some safe-haven buying, while industrial metals like silver and copper are pulling back due to global growth concerns.

The video analyzes recent US economic data, including better-than-expected wholesale inventories and trade sales, but highlights sticky PCE inflation. Geopolitical tensions surrounding the Iran ceasefire are driving volatility in energy markets, with crude oil climbing back above $100. The market is in a 'holding pattern' awaiting further clarity on the ceasefire and upcoming CPI data.