More Bullish Signals For Oil as Aramco Raises Prices

The video discusses the strong demand for oil in Asia, where Saudi Arabia sends 60% of its crude exports. Prices have been raised globally, indicating a bullish market. The concept of backwardation is explained, highlighting its impact on trading strategies and market conditions.

What percentage of Saudi crude exports is sent to Asia?

• 60%

• 70%

• 50%

• 40%

What does a bullish signal from Aramco indicate about the oil market?

• The market is bullish.

• The market is declining.

• The market is stable.

• The market is bearish.

What is backwardation in the context of the oil market?

• When the longer end of the futures market is more expensive than the front end.

• When the front end of the futures market is more expensive than the longer end.

• When the futures market is stable.

• When the futures market is declining.

Why are buyers eager to secure oil immediately in a backwardation market?

• Because prices are expected to rise.

• Because supply is abundant.

• Because prices are expected to fall.

• Because demand is low.

What advice does Mike Miller give to financial traders regarding oil?

• To short oil due to low backwardation levels.

• To invest in other commodities.

• To avoid shorting oil due to steep backwardation levels.

• To sell their oil stocks immediately.