Most of the Europe is not in the full lockdown, cars are arround. Industries are still operating and looking at the flightradar, there are thousands of aircrafts flying, but it is true, much less then a week ago.
www.flightradar24.com/data/statistics
www.flightradar24.com/30.96,-105.17/2
China is recovering...
USA is not in a full lockdown but it is carefull and is monitoring closely the situation and pushing Saudi Arabia to step away from this price war. Brasil continues to live, however the situation does not look yet so drastical to justify the oil price drop and global demand reduction below last resistance level.
Traders—of which Vitol is one—have booked at least five very large crude carriers (VLCCs) over the past day, in order to store oil at sea. Vitol—whose 2019 revenues clocked in at $225 billion---and other unnamed traders hope to capitalize on the lower oil prices by producing or buying the oil now, storing it, and selling that oil later when oil prices rebound.
Probably politics should push on global economy targets and agreements more then disagreement on oil price. It would be nice to have a magic formula for position entry. But there isnt.
Anybody has meaninfull information about the effective drop of the oil consumption in real time #barrels?
www.flightradar24.com/data/statistics
www.flightradar24.com/30.96,-105.17/2
China is recovering...
USA is not in a full lockdown but it is carefull and is monitoring closely the situation and pushing Saudi Arabia to step away from this price war. Brasil continues to live, however the situation does not look yet so drastical to justify the oil price drop and global demand reduction below last resistance level.
Traders—of which Vitol is one—have booked at least five very large crude carriers (VLCCs) over the past day, in order to store oil at sea. Vitol—whose 2019 revenues clocked in at $225 billion---and other unnamed traders hope to capitalize on the lower oil prices by producing or buying the oil now, storing it, and selling that oil later when oil prices rebound.
Probably politics should push on global economy targets and agreements more then disagreement on oil price. It would be nice to have a magic formula for position entry. But there isnt.
Anybody has meaninfull information about the effective drop of the oil consumption in real time #barrels?