Discover and read the best of Twitter Threads about #cnooc

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#WTI #CrudeOil futures for May,expiring tomorrow,tanked 57%,to $7.98 per barrel

June contract,expiring on 19thMay, traded@ $26.62/barrel

July futures,traded@ $28/barrel

And all this,despite #OPEC's decision to cut supply by 9.7 million barrels a day,wef 1st May2020

#OilCrash
Normally,spread between #Spot &one month forward contract,is 40-50 cents

This time,spread is $10-12,implying weakness in #crudeoil,will continue

Global demand for #Oil in April 2020,was lower by 29 million barrels per day,Vs April 2019

#COVIDー19&global #lockdown, playing out
Indian #Crude basket is a derived basket of #crudeoil comprising #sourcrude(Dubai&Oman)&sweet crude(Brent)

Indian basket,aligned to #Brent crude,has fallen too,but not as much as #WTI crude

April 2020 #Brent@$20.92 per barrel March $32.01
Feb $55.70
Jan 2020@ $63.83

#OilCrash
Read 16 tweets
Ever see #RegimeChangeDeluxe in live time before? @BenKTallmadge @MischaEDM @RevisitedRick @ly_manaf @MadAddictSport @MagaKarma1 @ScheyChris @man_integrated

***Guyana Edition Supplemental***
The election was Mar 02/20 and all was well according to these public service announcements...
Step 1. Cast doubt on election results....which was accomplished by Mar 13/20 and caught my attention from all the money pouring out of the US State Dept.

The rabid left was expecting a different result from flooding Guyana with Venezuelan refugees...
Read 50 tweets

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