Oil Heads for Second Weekly Loss in a Row

The video discusses the recent drop in oil prices, primarily influenced by concerns over a potential US recession and inflation. Jerome Powell's comments on interest rate hikes have heightened fears of a recession, affecting demand and prices. The video also explores future oil price predictions, with differing views from Goldman Sachs and Citibank. The market structure shows backwardation, indicating stronger near-term prices. Additionally, the video examines the impact of a recession on copper and iron ore markets, with a focus on China's economic policies.

What factors contributed to the drop in oil prices this week?

How do interest rate hikes relate to the potential for a recession in the US?

What are the implications of China's COVID-0 policy on global oil demand?

What is the current consensus among financial institutions regarding future oil prices?

What should be monitored in the copper and iron ore markets in the coming weeks?