The Economist (April 21)
“Three factors are pushing the world towards the cliff edge. Oil cargoes available to buy are drying up. Refineries are slashing output of fuel. And demand remains artificially high, especially in Europe. Something big must give somewhere large for energy markets to balance.”
Tags: Artificially high, Cargoes, Cliff edge, Demand, Drying up, Energy markets, Europe, Factors, Fuel, Oil, Refineries, Slashing output, World
The Economist (March 22)
“Even the best-case scenario for energy markets is disastrous. Whatever happens, high prices will outlive the Iran war.”
Tags: Best case, Disastrous, Energy markets, High prices, Iran war, Outlive, Scenario
Washington Post (April 21)
“When the price of oil seemingly stepped through the looking glass Monday and tumbled into negative value, it summoned up an image of the world of petroleum turned wrong-side-round.” This shocker “was fleeting, and symbolic, more than anything, and it won’t have much effect on the price of gasoline at the pump. But it showed just how much the coronavirus pandemic has crushed the world’s energy markets — and how the global effort to stabilize them was failing.”
Tags: Coronavirus, Energy markets, Failing, Fleeting, Gasoline, Negative value, Oil, Pandemic, Petroleum, Price, Symbolic
