April 27, 2020
“…Crude Oil continues to be a big mover as the supply glut has really pushed global capacity to its limits. Dozens of full tanker ships are anchored off the California and Singapore coastlines waiting for demand to pick up. As long as the Virus shutdown persists globally, the supply gut will continue to wreak havoc on oil price levels into Summer. As of early Monday morning, Crude Oil is lower by -17% to $14.10 as I type….”
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