Oil Strategist Streible Expects Price to Rise Over Next Few Months

Phil Strebel from CME discusses the current state of the crude oil market, highlighting the supply-demand structure and the impact of OPEC's export reductions. He notes the decline in gasoline inventories and its potential effect on retail prices. Strebel also explains the separate influence of the dollar on commodities, driven by the US-China trade agreement and interest rates, predicting a softening of prices and support for markets like gold and silver.

What are the two key components affecting the strength of crude oil mentioned in the text?

How many barrels of crude oil are currently in total inventories according to the speaker?

What trend has been observed in gasoline inventories as mentioned in the text?

What does the speaker predict will happen to oil prices in the near future?

What impact does the speaker believe the stronger dollar has on oil prices?