Oil Drops From Three-Month High

The video discusses the current state of the oil market, focusing on Iran's production plans and their impact on prices. Joe Kusik, a strategist, provides insights into whether the market has reached a bottom, highlighting volatility and price ranges. He notes mixed data from Iran and discusses market sentiment. Future projections suggest an upward momentum, with technical analysis indicating resistance levels. The role of US shale producers and potential impacts on market prices are also examined.

What is the projected resistance level for crude contracts as discussed?

How many barrels per day are shale producers in the US currently producing?