Oil Inventories Offer Market Surprise Amid Price Breakout

The video discusses the crude oil market, focusing on recent surprises in crude oil inventories and the price of WTI nearing $58. Bob Iaccino from Path Trading Partners explains the influence of refinery utilization on these surprises and analyzes the typical price action patterns of crude oil. The discussion highlights a breakout from sideways channels and a significant price jump following durable goods orders. The video also covers upcoming reports from the IEA and OPEC, noting that the OPEC report is more aggressive on demand, indicating a bullish outlook.

What reports are mentioned that could influence the crude oil market later in the week?

How does the OPEC report differ from the IEA report in terms of market outlook?