Nick Coleman, senior editor of oil news at S&P Global Platts, told CNBC via telephone that Equinor's announcement "certainly brings into focus the kind of pressures that the industry is under."
Trading volume was thin given it was the day before the contract's expiration date, but the move lower was unprecedented nonetheless. On Thursday, the June contract for WTI traded at $14.81, up more than 7%, while international benchmarkThe US may run out of oil storage space in 'a matter of weeks': Goldman SachsNorway's Equinor said on Thursday that the company had recently launched several actions to "increase financial resilience" in response to unprecedented market conditions and uncertainties.
Completely agree, I expect that we are gonna see how Oil becomes 'rubbish' due to low demand and electric vehicles, in the middle and long term. There will be no Rebound which we are gonna see, that's just a 'breather'
A war between capitalist and socialist (they got a chance to make trouble as always)
Trump's bosses will be crying.
Am going to buy my car naw
This is just the beginning of a lot historic new norms! I am bracing myself!
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