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Originally published April 20, 2020 With oil in the midst of what could be its sharpest downturn in history, it’s not a surprise to see that gas prices at the pump have also been declining. Looking at the chart below, the national average price of gasoline has had a close correlatio...

Originally published April 20, 2020 If you've been alarmed by the headline "Oil plunges below $10/bbl," don't be. Chart #1 It's only a temporary phenomenon, brought on by the sudden collapse of oil demand (see Chart #4 in my previous post for more info). As Chart #1 shows, it's only ...

May WTI crude contracts (that expire today) crashed into negative territory for the first time ever on Monday, with markets awash in so much crude that storage space is becoming harder to find. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN...

( NOAA - Photo of Oil Spill) As of writing, crude oil front-month contracts are -$35 per barrel. This is, by far, the worst day for crude oil in history. The commodity has done the (seemingly) impossible: falling over 100% in a day. In fact, crude oil declined 260%, which makes the previo...

Pres. Trump says he will consider a proposal to prevent Saudi Arabian oil from unloading in the U.S. and that he wants to fill the Strategic Petroleum Reserve's 75M barrels of spare capacity to store crude, after U.S. front-month crude prices turned negative today . More news on: The U...

Welcome to the negative edition of Oil Markets Daily! For those of you that don't want to read this article, the punchline is this: May WTI settling in the negative means nothing to the rest of the oil market. This is related to contract expiration and the lack of available storage for...

Brother, can you hold a few of these for me? This will be a short and simple article. Yet it might be helpful in understanding some of the crude market’s dynamics. As I write this, May (front-month) WTIC (Western Texas Intermediate Crude) crude oil futures are crashing 37% to $11....

Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha Read more ...

Overview Oil prices have collapsed to start the new week. The May contract, which expires now, is off over 20% to a little more than $14, and the June contact is off nearly 7% near $23.30. Falling demand and limited storage space continue to overwhelm output cuts from OPEC+ that are to start...

by Daniel Shvartsman We recently published a roundtable discussion on the macro environment, and our panel agreed generally that whatever this market has become, we're still in the early phases of how that plays out. And with a bunch of unknowns that are knocking each other about - an un...