Oil Markets Watching U.S. Sanctions on Iran Very Closely, KeyBanc Capital Says

The video discusses the OPEC monitoring committee meeting in Azerbaijan, focusing on compliance with production cuts and future plans. The Saudi Arabian Energy Minister suggests extending the OPEC+ production cut agreement beyond June 30th, impacting oil markets. Technical indicators and market positioning are crucial in oil trading, with WTI prices rallying in 2019. The video also highlights the US's decision on Iranian sanctions waivers, which could affect global oil markets.

What factors are influencing short-term trading in the oil markets as discussed in the text?

What is the significance of the US waivers on Iranian sanctions in relation to the oil markets?