Oil Price to Sit in $78-85 Trading Range: Streible

The video discusses recent trends in the oil market, highlighting a rebound in oil prices after a bear market phase. Experts analyze the supply-demand dynamics, noting increased US production and its impact on global supply. Trading strategies are explored, focusing on short positions and risk management. The concept of contango is explained, emphasizing the balance between current supply and future demand.

What factors are contributing to the recent rebound in oil prices?

How has US oil production changed recently, and what impact does it have on the global market?

What is the significance of the $83 level in oil trading according to the discussion?

What are the implications of the supply-demand dynamics on oil prices as discussed?

Discuss the concept of 'contango' as mentioned in the conversation.