Thursday's move higher comes afterPresident Donald Trump said Wednesday in a tweet that the U.S. would "destroy" any, which Bjornar Tonhaugen, head of oil markets at Rystad Energy, said contributed to oil's jump. The Middle East is key to the oil trade, so any possible tumult can impact the worldwide flow of crude.
Analysts are warning that storage around the world is quickly reaching capacity, which has also pressured prices in recent weeks. "June could see storage tanks struggling to come off highs, in which case the days leading to expiry next month could see yet another squeeze," Francesco Martoccia, senior associate in commodity research at Citi, wrote in a note to clients.
Cuts or bankruptcies even at 30$ it’s bankrupt 😢😢
Ya know what would help during these hard economic times? Giving all people that drive for a living vouchers or something for super cheap fuel.
WTF is wrong with you? All prices are hovering around $1 per barrel.
Market manipulation has never been more blatant.
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