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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (81143)	3/31/2020 3:44:50 PM
From: Goose94	Read Replies (1) \| Respond to of 202936

Crude Oil: WTI opened slightly up but, at US$20 per barrel, remains stuck at 18-year lows. There are few reasons to be optimistic, as most analysts see demand destruction growing by the day. It seems the rebound in oil prices earlier in the month was only a temporary relief. Global oil demand could fall by more than 20 mb/d, and market forecasts continue to see daily revisions. “Oil demand is breaking away, probably by much more than the 20% we have currently in our books for April/May,” JBC Energy said. Texas pipeline companies have told shale drillers to cut upstream production because pipelines and downstream storage and refineries are reaching capacity. The move is a sign that shut ins are just around the corner.