Strategist Sees Bears in Control of Oil and Energy Markets

The video discusses the impact of Storm Michael on the South and its implications for the oil market. Phil Streible from Rjo Futures provides insights into oil inventories and market dynamics, highlighting the control of bears in the market. The discussion covers supply disruptions due to Iran and the hurricane, as well as the role of speculators. Predictions for oil prices are made, considering economic factors like Fed rate hikes and equity downturns.

What natural event is mentioned as affecting the South at the beginning of the video?

• Flooding in Texas

• Hurricane Katrina

• Tornado Alex

• Storm Michael

Who is Phil Streible and what organization is he associated with?

• A meteorologist from NOAA

• An economist from the Federal Reserve

• A futures expert from Rjo Futures at the CME

• A stock analyst from Wall Street

What is the current state of the crude oil market according to Phil Streible?

• Bulls are in control

• Bears are in control

• The market is stable

• Prices are skyrocketing

What factors are contributing to the oversupply concerns in the oil market?

• Increased demand from China

• Supply disruptions from Iran and a hurricane

• New oil discoveries in the Middle East

• Decreased production in the US

How have the Federal Reserve's actions impacted crude oil prices?

• By increasing oil production

• By stabilizing the economy

• By raising rates too high, too fast

• By lowering interest rates