Oil Market Shows Signs of Strength

The video discusses the volatile year for crude oil, highlighting a significant recovery from earlier lows. It explains the concept of backwardation, where current prices are higher than future contracts, indicating market strength. The discussion includes insights from a commodity trader who is optimistic about future crude oil prices, expecting them to reach the mid-50s, despite potential seasonal fluctuations.

What was the percentage drop in crude oil prices at the lowest point this year?

• 25%

• 100%

• 50%

• 83%

What does backwardation in the crude oil market indicate?

• Future prices are higher than current prices

• Current prices are higher than future prices

• Prices are unpredictable

• Prices are stable over time

Which quarter of 2021 is used as a reference for backwardation in the transcript?

• First quarter

• Fourth quarter

• Second quarter

• Third quarter

What is Carla Garner's prediction for crude oil prices next year?

• Around $75

• Above $100

• In the mid-50s

• Below $30

What factor does Carla Garner mention that could affect crude oil prices?

• Seasonality

• Environmental policies

• Political instability

• Technological advancements