BRUCE WHITFIELD’S LOCKDOWN DIARY: Oil. Explained.
The madness in oil prices this week shows the massive dislocations in the global economy being caused by the Covid-19 pandemic
Oil prices are collapsing, but the bad news is that you’re going to get very little direct benefit from it anytime soon.
With a massive global oversupply of oil, due to a collapse in demand brought about by national lockdowns everywhere, traders are paying to get out of futures contracts, and this has led to a collapse in the price of US oil...