Oil Strategist Seifried Sees Potential for a Push to $70

The video discusses the current state of oil prices, focusing on the balance between supply and demand. It highlights the role of OPEC and Russia in maintaining supply cuts and the impact of the U.S. dollar on crude oil prices. The discussion also covers market expectations for WTI prices and the potential influence of currency fluctuations on commodity markets.

What is one of the main factors currently influencing oil prices according to the discussion?

• Increased demand from China

• Supply cuts by Russia and OPEC

• New oil discoveries in the US

• Rising interest rates

What technical indicator is mentioned as a key level for crude oil prices?

• MACD crossover

• RSI below 30%

• 200-day moving average

• 50-day moving average

How might a strong US dollar impact crude oil prices?

• It could lead to higher oil prices

• It could have no effect on oil prices

• It could lead to lower oil prices

• It could stabilize oil prices

What is the Federal Reserve's stance on interest rate changes in 2019?

• Planning multiple rate hikes

• Uncertain about rate changes

• Planning to cut rates

• No hikes expected

What is a potential outcome if the US dollar continues to strengthen?

• Decreased commodity prices

• No change in commodity prices

• Increased global inflation

• Increased commodity prices