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 was the price of WTI crude oil in December 2017 compared to 2018?

Explain the concept of backwardation and how it relates to the crude oil market.

Discuss the implications of the dollar index on crude oil prices as mentioned by the speaker.

What factors are influencing the crude oil market according to the speaker?

What is the next upside target for crude oil mentioned in the discussion?