Ira Epstein discusses the current state of the financial markets, focusing on the geopolitical tensions surrounding Iran and the implications for crude oil prices. He explains that while a treaty with Iran is inevitable, the timing and terms remain uncertain, with Iran needing pressure from crude oil prices to negotiate effectively.
Epstein also highlights the oversupply of oil due to China's production cutbacks, which has kept prices below $100 per barrel, contrary to earlier predictions of $150.
Additionally, he notes upcoming economic reports, including mortgage bankers' numbers and Red Book retail sales.
Video Length: 00:09:16
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