After this week’s market wrap-up with Ryan Puplava, Craig Johnson of Piper Jaffray talks about the state of the markets. He tells us he doesn’t think we’re heading into a bear market, though he does predict one more washout. Johnson discusses a trifecta of rising interest rates, oil prices and the dollar.
Next, we speak with Dan Steffens, President at Energy Prospectus Group, about tightness in the oil markets and seasonal forces leading to current weakness. Steffens argues there’s strong support for oil in the $65-$67 range, however with the Iranian sanctions going into effect on Nov. 4, we could see 1 million barrels taken offline.
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