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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...

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...

Global storage capacity will start to ebb after governments sought to fill their strategic reserves. Oil prices fell again to historical lows as the full impact of the largest oil output cut in history needed time to trickle down to the movement of barrels for May delivery. Eventually gl...

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last week’s WTI Weekly , the primary expectation for this week was for price discovery lower, barring failure of 26.50s as resistance. This expectatio...

Traders are storing an estimated record 160 million barrels of oil on ships - double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say. Organization of the Petroleum Exporting Countries ((OPEC))...

WTI crude oil contracts for May delivery slumped 9% overnight to $18.03/bbl after OPEC economists slashed their global demand forecasts and the Energy Department said domestic producers had boosted U.S. inventories by a record 19.2M barrels. More news on: The United States Oil ETF,...

Recent historic events have thrown the global oil markets for a real loop. On one hand, we have seen the fallout associated with COVID-19. What once looked like a minor pain has morphed into a global catastrophe, the end result of which is, at least for now, a significant drop in oil demand. O...

As the Coronavirus was spreading around the globe like wildfire economic activity ground to a halt. On February 20, the US stock market reached an all-time high. On the same day, the price of crude oil traded to $54.82 per barrel. Few market participants could have imagined that a little ove...