What is the significance of refinery utilization in relation to crude oil prices?
Oil's Slide Deepens on Larger-Than-Expected Inventory Build
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The video discusses the current state of CME oil, analyzing recent EPA data and market positioning ahead of the G20 summit. It explores expectations from Jerome Powell's statements regarding the neutral rate and the potential impact of ongoing trade tensions on market corrections. The discussion highlights the influence of refinery utilization and gasoline draws on crude oil prices, and the market's anticipation of the Fed's response to trade developments between Trump and Jinping.
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What concerns were raised about trade tensions and their impact on asset prices?
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