Oil Analyst Sen Sees $70-$71 Floor for Brent Crude

The video discusses the current state of crude oil prices, highlighting a low of $64 set in May and questioning if this is the bottom or if prices could drop further. The speaker expresses concern about upcoming sovereign hedges, particularly from Mexico, which could impact prices in a low liquidity environment. Despite a volatile year, the speaker suggests a price floor around $70-$71 and an upside in the mid-80s, with a focus on the impact of sovereign hedges in the coming weeks.

How does the speaker describe the current trading environment for oil?

What impact do sovereign hedges have on oil prices according to the text?