Oil Rises to Six-Month High: What's Next?

The transcript discusses the temporary nature of supply disruptions in oil markets, particularly in regions like Nigeria and Canada, and the potential for oil prices to reach $50. It highlights the significant drop in the number of rigs and US production over the past two years. The discussion also covers inventory drawdowns and their influence on crude prices, with a focus on EIA data and market expectations. Additionally, the transcript examines the interplay between the crude market and foreign exchange dynamics, considering factors like the dollar's strength, Fed policies, and geopolitical events such as Brexit and eurozone issues.

What role do inventory drawdowns play in influencing crude oil prices?

How do external factors like the dollar and geopolitical events affect the crude oil market?