MacroVoices #484 Rory Johnston: Crude Oil Forward Curve Conundrum
Macro Voices
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Crude Oil Market Dynamics and Geopolitical Influences
This chapter explores the intricate dynamics of the crude oil market amid geopolitical tensions, focusing on current pricing trends and market statistics. It examines the unusual backwardation and contango structures in the forward curve, highlighting the impact of supply expectations and global demand uncertainty. Additionally, the discussion reflects on the complexities of oil inventory changes, particularly in the U.S. and China, and the implications these have for future supply and demand balances.
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