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Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E Sr MedTrm Nt
Crack spreads look gloomy.
The best phrase to describe last week's oil market is "roller coaster." You wouldn't think so if you just looked at the week's ending numbers. Front-month light, sweet crude wrapped up Friday at $54.40 a barrel, just a 2% loss for the week. The ride to Friday's close, though, was more than a little scary.
Prices plunged on Wednesday toward the $50 level, a price plateau not visited since the harum-scarum of the 2018 Tariff Tantrum. The cause of Wednesday's nosedive? A lot of talking heads blamed the sudden devaluation of