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YGRN - The Crude Oil Contango Moves Lower As The Price Rises
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
A perfect bearish storm hit the crude oil market in early March 2020. The spread of COVID-19 outside China’s borders caused demand for energy to grind to a halt as businesses closed, and social distancing guidelines locked individuals worldwide in their homes. The self-induced coma in the global economy made the demand for energy evaporate in what seemed like a blink of an eye.
At the same time, and in their infinite wisdom, the international oil cartel and Russia decided to flood the world with petroleum when demand was plunging. The price of crude oil