Futures contract moves endangering WTI prices again

April 29, 2020/in /by Rudolf Huber

I expect the storage situation to be even worse in may than it is right now which means that when the June contract goes towards its final showing the heat will go pizza oven. The WTI crash in April will seem quaint and some people will ask if we are in a new normal. We are not. This is a mad year and we won’t have solace for many more months. But eventually, physical oversupply and the incapacity to store one more drop of oil will take a toll among all producers. And the demand will come back. Not as much as it was before COVID-19 but the sucking sound will nevertheless be audible.

Crude whipsawed near $11 a barrel after a major index tracked by billions of dollars in funds bailed out of near-term contracts for fear prices may turn negative again.

www.worldoil.com

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I met Rudolf at the beginning of 2011, since we were both involved and working together within several European / Scandinavian projects for the development of technology, standardisation and legal aspect in the use of LNG as marine fuel and along its supply chain. Rudolf has vast expertise in, and perspective on, different aspects of LNG technologies, suppliers, infrastructures and supply chain options. He is able to provide a deep understanding and insight into these areas and is a conscientious and diligent source. Moreover, he is a tremendous visionary on the geopolitical, trading and technology aspects of energy, with a special remark for LNG traditional and small / mid magnitude chain. Rudolf has very proactive personal and working approach and is an excellent team worker and leader. Not least, he has a unique persuasive way of writing, negotiating and delivering speeches. I would certainly recommend him as an excellent expert and believe he would be a powerful asset for any company actively working in Oil and Gas. Thank you Rudolf! Marco

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