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Expert sounds alarm on oil prices, warning of 'lower lows'
The Street
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4/17/2025
Experts warn of potential risks in the oil market as global uncertainty looms.
Category
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Sports
Transcript
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00:00
Crude oil has had a nice little rally, obviously, in the last week or two.
00:03
And a lot of that is based on the idea of potential sanctions on Russia, maybe even Iran.
00:10
And so that would pull some barrels off the market.
00:12
But the reality is, in the big picture, we are very well supplied.
00:16
So if those sanctions don't come into play or those entities find ways to get around them,
00:21
which has kind of been the MO for those types of things,
00:24
the crude oil price should continue to make lower highs, lower lows.
00:31
We've seen basically since the March, I think it was 2022 high, crude oil rallied to 125, 130.
00:39
Since then, we've basically been seeing every rally get sold into.
00:42
And I think that's going to continue.
00:44
So again, we don't know what's going to happen on the political front,
00:47
but this is a really good time to mind your risk on the downside in oil.
00:51
Because if the support breaks, we've been holding the 65 for two or three years.
00:56
If that level breaks, there's really nothing stopping it until we get into the low 50s.
01:00
So we're focused on the downside risk in crude oil.
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