Crude Oil Market - Brent crude initially surged by 12-13%, later reduced to approximately 65% [2] - The entire curve is shifting, indicating expectations of a sustained disruption in oil supply [2] - Higher oil prices are generally beneficial for the US economy [2] US Dollar & Stock Market - The initial market reaction was to sell the dollar, consistent with the year's prevailing theme [3] - Higher oil prices could trigger a short squeeze in the dollar [4] - US stocks surprisingly underperformed Asian stocks, despite Asia being a larger energy importer [5] - The dollar has softened by nearly 9% since its yearly highs [6] Potential Dollar Short Squeeze - A potential dollar short squeeze could result in a 1% bounce from the lows, or a more substantial 4-5% increase [9] - The dollar bearish trend has multiple prongs, but requires real flows to substantiate it [10] - A break in the trendline could trigger momentum-driven buying, potentially pushing the dollar higher by a few percent [11]