Oil Markets: From Contango to Backwardation

The video discusses the WTI spread and its transition from contango to backwardation, highlighting the implications for oil prices. Alan Nachman provides insights into the crude oil market and the dollar index, suggesting that the pace of rate hikes may impact oil prices. The technical analysis indicates a sideways trend in crude oil prices, with potential for a breakout. The video concludes with an optimistic outlook on future crude oil prices, emphasizing economic growth and demand factors.

What significant change occurred in the WTI market between December 2017 and 2018?

• Prices in 2018 became cheaper than in 2017

• The market shifted from backwardation to contango

• Prices in 2017 became more expensive than in 2018

• The Saudis increased oil production

What is Alan Nachman's focus regarding the crude oil market?

• The impact of the dollar index

• The increase in oil production

• The decrease in global demand

• The rise in renewable energy sources

What price range has crude oil been trading in for about six months?

• $50 to $60

• $30 to $40

• $55 to $65

• $42 to $52

What factors are considered positive for the future of crude oil prices?

• Decrease in global demand

• Increase in renewable energy sources

• Reduction in infrastructure development

• Inflation and economic growth

What is the next upside target for crude oil prices according to the discussion?

• $52

• $72

• $45

• $62