While a plunge in U.S. crude oil prices this week reverberated across global financial markets and fueled renewed worries over the beleaguered shale oil industry, billionaire investor Howard Marks told CNBC that the price action "is completely rational."
An offshore oil platform is seen with a tanker in the distance on April 20, 2020 in Huntington Beach, California.. crude oil prices this week reverberated across global financial markets and fueled renewed worries over the beleaguered shale oil industry. Yet billionaire investor Howard Marks isn't panicking.
The May WTI contract, which expired on Tuesday, settled at $10.01 a barrel. Futures contracts trade by the month.BrentThe coronavirus pandemic has dealt a severe blow to economic activity around the globe and sapped demand for oil. While OPEC and its oil-producing allies finalized a
How much does it cost to inject oil back into the deposit? Why not reverse certain tactical pipelines, offloading big tankers to make room for cheap oil and buy all we can get our hands on, especially if you get paid to take it!
Howard is correct. And since the May 20 futures contract expiration for Brent is coming on April 30, Brent has until then to make a correction comparable to the correction in WTI.
Why is cnbc showing the July contract for the oil price on the app? JUNE IS THE CURRENT CONTRACT!
SullyCNBC How long will it take to consume the overage in storage before producers are willing to resume exploration/drilling? What is the long-term outlook?
And the sky is blue
Well if you apply all of the variables in play He’s correct.