Crude Inventories Rise 7.24 Million Barrels: EIA

The video discusses the impact of weekly inventory data on the market, highlighting a significant build. Alan Nachman from CME provides insights into the market's resilience, comparing stock and oil market trends. The discussion covers market expectations, OPEC's role, and the global growth outlook. The video concludes with an analysis of the currency market, focusing on the dollar index and its divergence from commodities.

What was the psychological significance of the $60 level for crude oil?

• It marked the midpoint of a previous drop.

• It was the highest price ever recorded.

• It was the average price for the year.

• It was the lowest price in 2019.

How did OPEC contribute to the oil market according to the discussion?

• By failing to reach an agreement.

• By reducing oil production significantly.

• By overcompensating and supporting the market.

• By ignoring global growth concerns.

What was the major concern regarding global growth?

• It was expected to accelerate rapidly.

• It was forecasted to decline sharply.

• It was anticipated to slow down.

• It was predicted to remain stable.

What unusual trend was observed with the dollar index?

• It was weakening against all currencies.

• It was strengthening despite no rate hikes.

• It was stable with no significant changes.

• It was fluctuating unpredictably.

Despite Brexit issues, which currency was noted to hold its ground?

• The Euro

• The Yen

• The Pound

• The Canadian Dollar