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In this analytical segment, Bloomberg Intelligence’s Senior Commodity Strategist, Mike McGlone, joins Jeremy Szafron, Anchor at Kitco News, to discuss the commodities market’s current state and future projections. With geopolitical tensions escalating and the commodities market experiencing significant volatility, particularly in oil and precious metals, McGlone offers a deep dive into the factors influencing these trends. From the implications of the recent drone attack in Northeastern Jordan to the strategic dynamics of the Red Sea region, gain a comprehensive understanding of how these developments are shaping the global commodities landscape in 2024.
Follow Jeremy Szafron on X: @JeremySzafron (https://twitter.com/JeremySzafron)
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Follow Mike McGlone on X: @mikemcglone11 (https://twitter.com/mikemcglone11)
00:00 – Introduction: Focus on Volatile Commodities Market
00:29 – Geopolitical Upheavals and Impact on Global Oil Market
00:58 – Importance of the Red Sea Region in Oil Supply
01:27 – Crude Oil’s Bear Market Trajectory: Historical Context
02:21 – Analyzing WTI’s Potential Drop to $40
03:15 – Global Recession Indicators and Commodity Trends
04:38 – Projection of WTI Crude Oil to $40 Mark
05:05 – Factors Leading to Oil Price Changes
06:27 – US LNG Ban and its Market Implications
07:49 – Bitcoin, Gold Relationship, and Market Predictions
#redsea #oilandgas #wticrudeoil #gold #bitcoin #oilprices #lng #silvermarket #copper
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Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News.__________________________________________________________________
Kitco News is the gold standard in precious metals, commodities, cryptocurrencies, mining, and financial news.
SUBSCRIBE to our channel to stay up to date on the latest market and industry news.
For breaking news, views, charts, and data on precious metals, cryptocurrencies, and financial markets – visit us at https://www.kitco.com
To get market updates on the go, download the Kitco Gold Live! APP – https://applications.kitco.com
Stay connected:
Twitter – https://twitter.com/kitconewsnow
Instagram – https://www.instagram.com/kitconews
Facebook – https://www.facebook.com/KitcoNews
LinkedIn – https://www.linkedin.com/company/kitconews
StockTwits – https://stocktwits.com/kitconews
Live gold price and chart: https://www.kitco.com/gold-price-today-usa/
Live silver price and chart: https://www.kitco.com/Silver-price-today-USA/
Live crypto market data: https://www.kitco.com/price/crypto/
Learn more about Kitco News: https://www.kitco.com/news/about/
For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: www.kitco.com/advertising
Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News.
