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OILX - Oil Market In Full Panic Mode And OPEC Is Expected To Respond With Emergency Meeting
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Welcome to the full panic mode edition of Oil Markets Daily!
Sentiment in the oil market flipped 180 over the last month. From the "we are about to go to World War 3" sentiment and $100+ oil if we do go to war to "China's demand is going to fall off a cliff" and WTI falling below $50/bbl.
The overly bullish scenario turned out to be false, but the concern over demand destruction in China appears to be gripping everyone's attention now.
Source: BarCharts.com
While everyone continues to guess the real impact of the coronavirus,