United States Oil Fund (USO): Crude oil simply moved up far too fast l...

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Re: fitzwell11 post# 1891

Monday, 04/06/2020 1:12:47 AM

Monday, April 06, 2020 1:12:47 AM

Crude oil simply moved up far too fast last week in anticipation of this meeting and this meeting only. I don't think Futures Traders are taking into account that the Coronavirus appears to be forecasted to linger all the way through July and August which means major travel restrictions for all those months. The surplus of oil will merely continue to grow here in the United States with our SPR nearing maximum storage capacity.

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