When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
OILX - Oil Prices Continue To Reverse Higher As Implied Demand Destruction Is Less Than Expected
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
There's a silver lining to all of this. The coronavirus initially caused analysts to assume demand destruction was upwards of ~3 mb/d. OPEC+ led by the Saudis are preparing to respond to such estimates, but the latest we've seen suggests demand destruction may be less than ~800k b/d.
Another puzzling point aside from the recovering global refining margins is the stunning recovery in the Brent 1-2 timespread.
Platts has recently reported that Chinese refineries are back in the market buying crude for the summer months which have promptly pushed timespreads back into backwardation.