what does this really mean, moreover how does this really happen,
a few oil whales get the signal to sell their profits and 'pull it' on beltane,
the ostensible reason given of nascent 'recession'.
oil is typically cyclical, so there's an argument regulatory pressures, war, etc. drive the price back up eventually (unless some magick replacement is produced). deflation might mean easing on cost per goods, though that would be undesired since the FEW wouldn't want the slave class to do any better, or have the perception that things are getting better etc.
Futures contracts went to 0 for that month's delivery primarily because there was was a storage capacity problem. No one had capacity to take delivery. The govt did have storage capacity and should have taken the opportunity to add to the strategic reserve.
Anyway, anyone who uses an Y axis like that in his video should be taken with skepticism.