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Saturday, 03/21/2020 12:58:24 AM

Saturday, March 21, 2020 12:58:24 AM

Post# of 709
Bought a bunch of WTID (3x Inverse Crude) today.
https://etracs.ubs.com/product/detail/index/ussymbol/WTID



We're Barreling Toward An Epic Glut Of Oil
March 20, 20201:02 PM ET
https://www.npr.org/2020/03/20/818457109/were-barreling-toward-an-epic-glut-of-oil?utm_source=facebook.com&utm_medium=social&utm_term=nprnews&utm_campaign=npr&fbclid=IwAR2oqJ8lIEX3UUBltHzFd9Cmw1aowy58xknsTdYqD5WUfLd3U0za2PQsCmM

Some parts of the economy are grappling with pandemic-driven shortages. The oil industry has the opposite problem: so much extra oil that it's not clear where to put it all.
With millions of people not taking trips, commuting or flying, the world's appetite for oil has come crashing down, thanks to the coronavirus.
At the same time, a price war between giant producers Saudi Arabia and Russia has caused the oil supply to swing up.




Fortes Fortuna Juvat

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