Brent to Revisit $100 Range by Year-End, Schork Says

The video discusses the current state of the oil market, highlighting a lull in demand due to maintenance seasons in North America and Europe. It predicts that oil prices will remain in the $85-$95 range for the next two months, using Brent as a benchmark. As the holiday season approaches, an increase in demand for jet fuel, gasoline, and diesel is expected, potentially driving oil prices back to the $100 range.

What is the primary reason for the current lull in oil demand?

• Increased production in North America

• A rise in alternative energy sources

• The maintenance season in refineries

• A decrease in global oil reserves

During the maintenance season, what activities are typically carried out in refineries?

• Switching to alternative fuels

• Expanding storage facilities

• Shutting down units for retooling and refueling

• Increasing production capacity

What is the expected price range for Brent crude oil over the next two months?

• $85 to $95

• $70 to $80

• $95 to $105

• $100 to $110

Which factors are expected to increase oil demand during the holiday season?

• Higher demand for jet fuel, gasoline, and diesel

• Increased industrial activity

• Government subsidies for oil companies

• A surge in electric vehicle usage

What potential price level might oil revisit during the holiday season?

• $80

• $90

• $100

• $110