• Pete

Just When You Thought You Had Seen It All

I thought I had when I reported on crude at mid-day, a 35% drop overnight? Well I certainly was wrong. Negative futures pricing on a deliverable product? Check out this Bloomberg article. It explains it much better than I can.

https://www.bloomberg.com/news/articles/2020-04-19/oil-drops-to-18-year-low-on-global-demand-crunch-storage-woes?fbclid=IwAR2DQu_1_1leuEysDa3BI44cCt-nCKn4z_NJVKoWA_a3dhsvD1B7m3GgWL0

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