Another view on why commodity prices have been under pressur Kav it would be pretty easy to just post positive views or just post negative news. The data is all quite mixed. I think the economy is a little better than people think and that the main forces affecting price right now are not industry driven or just based on general economics. Nuttall's point is that the financial market is having an outsized impact.
Below is another view that comes to the same conclusion. Basically it is too expensive to carry a lot of inventory so it is impacting prices by reducing inventory. Prices are healthy enough now, but Eventually that will bite everyone as inventory reduction stops. And the latest SPR release end in 4 weeks.
https://www.cnbc.com/video/2023/06/01/oil-will-once-again-be-profitable-when-market-destocking-runs-out-says-goldman-sachs-jeff-currie.html?__source=sharebar%7Ctwitter&par=sharebar