Oil Markets Seeing 'Soft Patch,' BofA's Blanch Says

What is contango in the context of oil markets?

• When prices remain constant over time

• When current prices are lower than future prices

• When prices fluctuate unpredictably

• When current prices are higher than future prices

What recent market condition did the oil market shift from?

• Volatility

• Contango

• Backwardation

• Equilibrium

Which two global factors are contributing to the current contango?

• Russia's oil export disruptions and OPEC cuts

• China's full reopening and increased US production

• China's partial reopening and Russia's continued exports

• Middle East tensions and European demand

What is the primary reason for the surplus in the oil market?

• Increased demand from Europe

• Unexpected production cuts by OPEC

• Higher than expected oil exports from Russia

• Decreased consumption in the US

How does the market adjust for the surplus leading to contango?

• By maintaining constant prices

• By decreasing future prices

• By adjusting supply and demand dynamics

• By increasing current prices