Oil Seen Around $55-$60 at Year End With Risk to The Upside: Nasdaq's Essner

The video discusses the impact of geopolitical factors on oil prices, focusing on civil unrest in Libya and Venezuela, potential actions by Iran, and the US-China trade deal. It highlights the volatility in Libyan oil production and the risks associated with the Strait of Hormuz. The discussion also covers how the US-China trade deal could influence China's compliance with sanctions and affect oil demand. Finally, it provides a forecast for crude oil prices, considering seasonal demand and geopolitical tensions.

What are the implications of geopolitical tensions on the demand outlook for oil?

How do seasonal factors influence crude oil prices, particularly in relation to sanctions on Iran?