Analyst Colvin Says Dollar Is Trading on U.S. Tax Reform

The video discusses the current state of oil prices, influenced by US crude inventory data and political news from the Middle East and South America. It highlights the potential for oil prices to remain elevated if supply decreases and demand increases. The discussion also covers the weakening dollar and its impact on commodities, noting a shift in correlation due to US tax reform. The importance of Washington DC's actions on tax reform is emphasized, as it could significantly affect the dollar and related markets.

What factors are currently influencing oil prices according to the discussion?

What does the speaker suggest about the relationship between oil prices and producer behavior?

How has the dollar's movement affected oil prices recently?

What is the significance of U.S. tax reform in relation to the dollar and oil prices?

What might happen if the U.S. government fails to pass tax reform according to the speaker?