Crude Will Remain Range Bound, Even With Some New Catalysts
The biggest thing moving the price of oil continues to be the price of the U.S. dollar, says Luke Rahbari of Stutland Volatility Group.
Luke Rahbari of Stutland Volatility Group, tells TheStreet's Jill Malandrino the biggest thing moving the price of oil continues to be the price of the U.S. dollar. The build ups and draw downs don't mean as much to oil and it is more about the short-term trading. That said, some catalysts Rahbari is looking at is an escalation in the Middle East with Yemen, refineries coming back online and seasonal driving demand. Rahbari still believes crude will remain range bound until the end of the year, unless one of these catalysts really makes an impact or there is a supply shock. 2016 is when Rahbari sees oil making a substantial move higher and out of range bound trading.
