Strategist Sees Bears in Control of Oil and Energy Markets

The video discusses the impact of Storm Michael on the South and its implications for the oil market. Phil Streible from Rjo Futures provides insights into oil inventories and market dynamics, highlighting the control of bears in the market. The discussion covers supply disruptions due to Iran and the hurricane, as well as the role of speculators. Predictions for oil prices are made, considering economic factors like Fed rate hikes and equity downturns.

What role does the hurricane play in the oil market as mentioned in the text?

What does the commitment of traders report indicate about the current market?