Citigroup's Ed Morse Sees $90 Ceiling for Crude

The video discusses the oil price band ranging from $60 to $100 per barrel, with a soft put around $70 due to OPEC's actions, US strategic stockpile plans, and China's inventory strategies. It highlights the impact of hurricanes as wild cards affecting oil prices, particularly in the US Gulf Coast, a major contributor to global oil and gas exports. The potential for flooding to disrupt exports is also noted, with a ceiling price of $90 suggested in the absence of such disruptions.

What is the 'soft put' in the oil market context?

• A strategy to increase oil production

• A mechanism to stabilize oil prices around a certain level

• A method to decrease oil consumption

• A plan to reduce oil exports

Which countries are involved in maintaining the 'soft put' for oil prices?

• Russia, Saudi Arabia, and India

• China, the US, and OPEC

• Brazil, Canada, and Mexico

• Japan, South Korea, and Australia

How can hurricanes affect the oil market?

• By reducing oil demand

• By stabilizing oil prices

• By causing damage to refineries and disrupting supply

• By increasing oil production

What is the significance of the US Gulf Coast in the global oil market?

• It is a major contributor to global oil and gas exports

• It has the highest oil consumption

• It is the leading oil producer

• It is the largest oil importer

What is the potential ceiling for oil prices in the current market conditions?

• $90

• $70

• $60

• $100