Tuesday 8 September 2020

Oil Glut Trade on the Brink of Making Comeback in Blow for OPEC+ - Bloomberg

Oil Glut Trade on the Brink of Making Comeback in Blow for OPEC+ - Bloomberg:

An oil trade that only works when the market is glutted may be about to make a comeback. That’s bad news for producers withholding near-record amounts of crude in a coordinated bid to help prop up prices.

The global Brent crude benchmark is currently trading quite deeply in a bearish pattern known contango, where the most immediate prices are far below those for contracts for supply in later months. The discount has gotten so big that it appears to cover the nominal cost of hiring 1,200-feet long supertankers. In other words: traders can buy cargoes now, stash them on ships, and sell them later at a profit.



Such a development would be viewed with concern by the likes of Saudi Arabia and Russia, the two nations who led the deepest global oil production cuts in history. In recent months, they have been carefully trying to boost supply to bring it slowly back toward normal. The contango implies that the market is so oversupplied that one of the industry’s most expensive forms of storage is becoming a viable way to hoard barrels -- on paper at least.

1 comment:

  1. 📁 ARE YOU TRULY IN NEED OF THE SERVICES OF A PROFESSIONAL HACKER?(CATCHING A CHEATING SPOUSE[Phone Hack], RECOVERY OF LOST FUNDS, CREDIT SCORE UPGRADE, WEBSITE HACK...)
    High prolific information and Priviledges comes rare as i would be sharing with you magnificent insight you wish you heard years before now. As it's been understood that what people don't see, they will never know.
    When you wonder “which hacking company should I hire, the first aspect that should concern you is quality. Clearly, you want to embark for services that povides swift response, Thanks to our talented and Astonish Hackers , you are rest assured that your expectations will always be met. You’ll be glad to find out that our services Implies precisions and actions.
    This post is definitely for those who are willing to turn their lives around for the better, either financial-wise, relationship-wise or businesses.
    Welcome to the Global KOS hacking agency where every request on hacking related issues are met within a short period of time.
    If your shoe fits in any of the required services below, you will be assigned to a designated professional hacker who is systematically known for operating on a dark web V-link protocol.
    The manual Operation of this hackers is to potentially deploy a distinguished hacking techniques to penetrating computers and various type of database system to meet your request.
    Penetration of computing systems are achieved using core software tools like Ransomeware, SQL/Keylogger injection. botnet, trojan and DDOS attacks.
    Providing value added services to clients as a hacker has been our sustaining goal.
    Are you faced with cyber challenges like
    💰Recovery of lost funds:✅It saddens our mind when client expresses annoyance or dissatisfaction of unethical behaviours of scammers. We have striven to make tenacious efforts to help those who are victims of this flees get off their traumatic feeling of loss. The cyber security technique used to retrieving back the victims stolen funds is the application of a diverse intercall XX breacher software enables you track the data location of a scammer. Extracting every informations on the con database, every requested information required by the Global KOS would be used to tracking every transaction, time and location of the scammer using this systematic courier tracking base method.
    📲 Hacking into the mobile phone of a cheating spouse.✅ This type of hack helps you track every movement of your cheater as we are bent on helping you gain full remote access into the cheater's mobile phone using a Trojan breach cracking system to penetrate their social media platforms like Facebook, whatsapp, snapchat etc. This spy processing is used via an HDSI folder which synchronizes the target mobile operating system into a clone S-Drive unit.
    💳Credit Score Upgrade:✅Due to our transformed changes on Equifax tracking , upgrading of credit score are backed by our cyber tech breaching licence, This hacking process drastically generates you an undestructive higher credit score which correlates to a higher level of creditworthiness. The time frame for upgrading a credit score requires eighteen(18) hours
    🅱️ BITCOIN GENERATOR:✅ (Higher job profile). This involves using the ANTPOOL Sysytem drifting a specialized hardware and software implementing tool in slot even-algorithms to incentivize more coins into your wallet which in turn generates more coins exponentially like a dream at specified intervals.
    The company is large enough to provide comprehensive range of services such as.
    • Email hacks📲
    • Hacking of websites.📲
    • Uber free payment hacks.📲
    • website hack.📲
    Our strength is based on the ability to help you fix cyber problems by bringing together active cyber hacking professionals in the GlobalkOS to work with.
    Contact:
    ✉️Email: clarksoncoleman(at)gmail • com.
    Theglobalkos(at)gmail •com.
    ®Global KOS™
    Copyright © 2020.•

    ReplyDelete