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YGRN - Weekly Energy Recap: U.S. China Investors All Seek To Store Oil
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
The cost of transporting oil on supertankers has soared as refiners and traders scramble to secure vessels to ship more crude. That has increased the cost of loading barrels from Arabian Gulf producers.
Crude oil prices continue to fall with steep fluctuations - dropping more than half since the start of the year, as the coronavirus pandemic leaves stock prices low, airlines hurt and supply chains broken.
The collapse of equity markets has added to the downward trend.
Brent crude retreated to $26.98 per barrel and WTI fell to $22.43 per barrel - an 18-year