By Peter Brailey | Tuesday 21 April 2020
Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I am enjoying my Ouzo with my cornflakes this morning, except I am not in reality. I do not delight in predicting negative oil prices a month ago and being proven correct. This only proves just how deep in the smelly stuff the world economy is in. For WTI (US mainland crude) to go negative to the extent it did yesterday was beyond my expectation at this early stage of the oil market re-balancing. I think this is pre-curser to wider issues on oil and oil product pricing and I am very worried about what this means...
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