Oil prices plunge to 20-year low as Covid-19 demand hit deepens – business live

The selloff in US crude oil futures was a brutal 21% in early Monday trade, and there is little sign of any imminent recovery, with West Texas Intermediate May prices still bumping along below $15 per barrel. “Don’t panic,” suggest analysts led by Mark Haefele, chief investment officer in UBS’s wealth management arm. They forecast prices of WTI and Brent crude of $20 per barrel at the end of June, and over $40 per barrel at the end of the year.

Prices at the Pumps ⛽️ don’t plunge though do they!!! OilPrice funny how they shoot up but never the opposite!!

Buy and stock reserves as much as possible. The intended market influence is that when there it will ultimately act a as suppression on trade prices. Market traders are aware that reserves if released will suppress current pricing.

WHAT ABOUT THE PETROL PRICES AT THE PUMPS

Time to let oil die.

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