Crude oil prices reverted deeply into the red today, falling more than 6% with WTI closing at another four year low. Goldman slashed its oil forecast yet again seeing Brent & WTI averaging $20/bbl in Q2.

Another historic market plunge sent crude down 10% (WTI now below $29) while the DJIA lost 3000 points.

BREAKING: President Trump announced the administration will be buying ”large quantities” of “cheap oil” to fill the US Strategic Petroleum Reserve “up to the top”. Oil prices moved modestly higher for the day but posted their worst week since 2008 as traders cope with abundant supply and evaporating demand. One point to note is trading […]

This was the worst day for DJIA since Black Monday, as the day was plagued with news such as professional sports league cancellations, the shuttering of Disneyland, and large corporate drawdowns of credit facilities

Oil prices came off today after yesterday’s surge as the WHO has now declared COVID-19 a global pandemic.

The US has cited this price war to show its importance in international markets as a reliable supplier and partner. All eyes also remain on the coronavirus and its impacts as the virus’ spread across the US increases.

Oil prices had a historic plunge with US crude dropping 24% as the Dow fell 2000 points and Treasury yields hit another all-time low.

“A cut from OPEC of even 1 million barrels a day would be supportive to
the market

Oil prices fell on Wednesday despite expectations that major
producers have moved closer to an agreement to enact deeper
output cuts.

Oil prices moved higher on Tuesday, but quickly came off session highs reached after the U.S. Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.