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Transcripts For CNBC Power Lunch 20160526

Lets get pumped up. Were being joined about it Founding Partner of agin and we have a kmg manager of tortoise capital. Youve been negative on oil. Were back to 50. Why . Are you changing the tune in the price forecast . Im not that constructive on it. I see the dollar rallying as the fed goes into Interest Rate hike mode here. Balance of the year. I think some of the outages that have driven the latest leg are transitory. You have already seen the canadian outcut come back. Youre seeing libya barrels starting to load. And the situation in nigeria isnt great. Iran, iraq, saudi arain yashgs all set to ramp up production even further in the coming weeks. So youre negative . You think this is a short term pop. You expect prices to fall again . And were at a critical level here matched up right with the october high. It would be a prominent double top if there is a failure here. Okay. What we do know is that prices have rallied. As oil prices rallied, so, too, have manufacture the stocks. W

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