Oil Analyst Sen Sees $70-$71 Floor for Brent Crude

The video discusses the current state of crude oil prices, highlighting a low of $64 set in May and questioning if this is the bottom or if prices could drop further. The speaker expresses concern about upcoming sovereign hedges, particularly from Mexico, which could impact prices in a low liquidity environment. Despite a volatile year, the speaker suggests a price floor around $70-$71 and an upside in the mid-80s, with a focus on the impact of sovereign hedges in the coming weeks.

What was the recent low price for crude oil set in May?

• $60

• $80

• $64

• $70

Which country's sovereign hedges are mentioned as impacting oil prices?

• Russia

• Saudi Arabia

• Mexico

• Canada

What is the main concern for traders during the period of thin liquidity?

• Price pressure

• High demand

• Stable prices

• Increased production

What is the predicted price floor for Brent crude?

• $60-$61

• $65-$66

• $70-$71

• $75-$76

What is the potential upside price range for Brent crude?

• Low 70s

• Mid 80s

• Over 100

• High 90s