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OILX - How Coronavirus Outbreak Is Impacting The Physical Oil Market
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Oil prices dropped to the lowest level since January 2019 amid rising worries about the impact of the coronavirus on global economy and oil supply-demand balance.
It's not about the sharp drop in oil prices, it's shaking oil supply / demand balance as China is the world's largest oil importer and the second largest refining capacity.
As coronavirus is shaking up oil prices on the paper market, it might shake up crude oil physical market.
Barrels for February arrivals have been already loaded earlier from the Arabian Gulf and other producers. However, the market might