Oil Crash Accelerates, Rippling to Currencies and Stocks

The crash in global oil prices accelerated Tuesday, as pain spread to currencies of major exporters and shares in energy producers.

Brent crude futures, the international benchmark for oil markets, plunged 28% to $18.31 a barrel, their lowest level since 2002. The decline came a day after the price of West Texas Intermediate, the U.S. crude benchmark, dropped below zero for the first time in history.

Trapped longs.

zorron16 Pues q se hunda todo de una puta vez! Esto es lo q trae no dejar regular los mercados

Chaos oil price crash leads worse global economic situation,for sure.

its a good opportunity to buy oil now for the next ten years.😂

Oil can leak an airborne virus 🦠 instantly around the world. Hmmm who’s been spilling gas in the air? And yet in any emergency crisis, all oil production is expected to be shut down while disinfectant takes up 90% of the budget. Hmmm crickets

There's a tl;dr on that, by the way. 🧐

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Oil price crash: Record amounts of oil stored in tankers amid pandemic - Business Insider60% more oil is being stored at sea in oil tankers than the previous record high during the 2009 financial crisis. Wow What could go wrong? Brilliant moves because buying on the spot Market is going to mean huge profits in the future... The Futures Market
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Crude oil is back above $1 after the oil market's worst day on recordThe global coronavirus pandemic has brought countries around the world to a standstill. Here's the latest updates on worldwide Covid-19 cases, deaths, government responses, and more. You’re reporting this but have no context into what it means. Sad. it's currently at -4.51 alternative energy is going to have a hard time competing.
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