Crude Oil Is Up More Than One Percent

The video discusses the current state of the oil market, highlighting a 1% rise in crude prices and the increase in oil storage on tankers in the Mediterranean Sea. It explains that the storage increase is not due to oversupply but rather low tanker rates. RBC's analysis shows tanker rates between Asia and the Gulf are at a two-year low. The video also covers the oil trade, with insights from Bill Baruch on market resistance and the impact of options expiration. The market experienced a 15% sell-off since July, with record short bets and a low RSI, influenced by recent news and OPEC's actions.

What is the primary reason for the increase in oil stored on tankers in the Mediterranean Sea?

• Oversupply in the market

• Low tanker rates

• High demand for oil

• OPEC production cuts

How have tanker rates between Asia and the Gulf nations changed recently?

• They are at their lowest in almost two years

• They have fluctuated unpredictably

• They have remained stable

• They have increased significantly

What is the significance of the 4479 level in the oil market?

• It is the price of oil per barrel

• It is a resistance level

• It is the average tanker rate

• It is the number of tankers in the Mediterranean

What event is expected to occur on the last day to trade the September futures?

• OPEC meeting

• Market rally

• Tanker rate increase

• Options expiration

What was the market's reaction to the expiration of the August contract?

• The market rallied

• The market remained stable

• The market saw increased buying

• The market dropped 15%