Oil Prices Hold Amid U.S. Strikes in Syria

The video discusses the current state of the oil market, focusing on the price of oil around $53 a barrel. It explores the impact of geopolitical events, such as the US bombing Syria, on oil prices. Despite expectations of higher prices, bearish news balances the bullish mood. The discussion highlights the importance of Saudi and Russian cooperation in extending oil production cuts, with an 80% probability of a deal extension. Future predictions suggest oil prices may rise in the second quarter, but without an agreement, prices could drop to $45.

What are the implications of the oil production cuts hitting the market later than expected?

What price range is predicted for Brent oil if a deal is not reached?