What really moves oil prices?

What Really Moves Oil Prices?
Over the past two decades, many markets have seen huge rallies and plunges. Each time, the media blames the big move on something outside the market.
You’ve seen it.
In the case of crude oil, for example, the mainstream blames the big waves on supply, demand, and (right now) the current conflict of between Ukraine and Russia.
In this video, EWI CEO Bob Prechter examines to see if the evidence supports the conclusion.
Scheduled to broadcast 3/17/22 8:00pm
Link for registration

Crude oil prices are determined by global supply and demand. Economic growth is one of the biggest factors affecting petroleum product—and therefore crude oil—demand. Growing economies increase demand for energy in general and especially for transporting goods and materials from producers to consumers.