By coinnews 
00:00 Speaker A
International Energy Agency releasing a new report on the oil market and cutting its oil demand growth forecast down to 730,000 barrels per day. For more, we’re going to bring in here Daniel Dicker, founder of The Energy Word. Daniel, I want to get your take on what we’re seeing in the energy market, the moves we are seeing. I’m just looking quickly for where Brent is at this moment, my friend. I’m looking at Brent at 66. All kinds of different dynamics and cross currents then to think through. At 66, if your clients, they ask you, where do you think that heads near to intermediate term? You tell them what, Dan?
01:28 Daniel Dicker
Well, uh, we’ve been uh, bearish on crude since the middle of ’24 and, uh, obviously, the, uh, the, the tariff mess that’s arisen has, uh, made a mess of even those bearish kind of ideas. And quite frankly, you know, you don’t have to be a, an oil expert or, or, or even a finance expert to, um, see the dangers that the oil prices will have when you start talking about either a recession you’re already in or a recession that’s about to begin or, or whatever. Uh, and, uh, you know, as, as much as we’ve seen a rally today because of some of the talk of a, uh, a possible negotiation with China and the Trump administration, uh, this seems to be all to me at least, um, short-lived. And I think that, uh, for the most part, that oil prices are at the very least range bound on the upside. On the downside, probably, uh, range bound as well, but, uh, I would, I tell my clients or my subscribers in actuality at this point that, uh, at the upside, um, chances and the possibilities for upside potential are not nearly as good as, as what, uh, lies probably in wait on the downside.