Oil Strategist Iaccino Says Wait for Market Stabilization

The video discusses a recent sell-off in the crude oil market, which was expected but occurred at a faster pace than anticipated. It explores factors such as seasonality, price adjustments, and market speculation. The discussion includes supply issues in Canada and Libya, and demand pressures reflected in EIA data. The video concludes with strategic advice, suggesting a wait for market stabilization and predicting potential movements in Brent and WTI prices.

Discuss the implications of the capacity utilization numbers from EIA mentioned in the text.

What is the significance of the spread between Brent and WTI prices as discussed in the text?