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TAN - Oil Market Carnage Causes A Second Day Of Selling (Technically Speaking For 4/21)
Invesco Solar
How can I not lead with the oil in negative price territory story? In reality, this story is about the interaction of demand and supply. A shuttered global economy means there is little to no demand for oil: consumers are driving less; airlines have grounded a large percentage of flights; no goods are moving across the oceans. At the same time, oil producers are still drilling for oil which is causing a supply glut. There is now nowhere to store it. This is what led to the collapse in the contract: traders were faced with