How Macro Risk's Kettenmann Is Trading the United States Oil Fund

The video discusses recent developments in the oil market, including geopolitical events in Libya and Iran, and Saudi Arabia's supply plans. It explains the concept of backwardation, highlighting its bullish implications for the oil market. The video also outlines a trading strategy using the USO ETF, focusing on options trading to capitalize on market conditions.

Why is the current backwardation in the oil market considered a bullish signal?

What trading strategy is being employed with the USO ETF based on the current market conditions?