-The oil market has a serious demand problem. -Shell is the next big company to consider restraint. The global oil market is on its knees amid an unprecedented collapse in demand. And it’s not market intervention in the oil patch, but the return of consumer activity that will resolve the issue. According to an IEA … More The Daily Dose
-A fear factor may be at play in the price of oil. -The quarantine economy knows no quarter. First quarter GDP in the United States showed a 4.8% contraction, Germany – Europe’s largest economy – could post a 6.6% dip this year and Saudi Arabia reported that oil revenues were down 24% year-on-year. The quarantine … More The Daily Dose
-China chums the oil waters. -WTI may be on life support as a benchmark. Retail investors leap-frogged to late-month contracts for WTI, devastating the US benchmark for the price of oil. A perfect storm of market competition, demand destruction and technical trading parameters has brought the US oil sector to its knees. And it’s getting … More The Daily Dose
The GERM Report 