Oil Slides on Surprise Increase in U.S. Inventories

The video discusses recent market trends, focusing on a surplus where a withdrawal was expected, and the impact of US-China tariffs on soybeans. Bob Iaccino provides insights into the oil market, highlighting the effects of gasoline inventory builds and seasonality on crude oil prices. The discussion also covers pipeline capacity issues affecting refinery utilization, particularly in the Permian region. Finally, the video examines how trade tensions influence crude oil and soybean prices, with a focus on global demand and market reactions.

What is the significance of the Permian region in the context of US oil production?

In what ways have trade tensions impacted crude oil and soybean prices?