What factors could potentially influence the oil market according to the discussion?
Oil Analyst Knuckman Links Crude, S&P on Route to All-Time Highs
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Alan Nachman discusses the current state of oil prices, noting they are trading sideways between $50 and $55, with potential upside to $60. He emphasizes the importance of the dollar and its impact on oil and macro markets. The discussion also covers the S&P 500, potential market drivers like trade agreements, and concerns about global growth. The dollar's strength and euro's lows are analyzed, with a focus on the lack of volatility and potential rate hikes.
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What is the significance of the dollar's position in the context of oil prices?
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