Theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see will fall further and therefore will fall through the 50. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on short and take that lower but i think that will be short lived i think ultimately the risk is really more to the upside than the downside and so there are actually traders out there you know running supertankers and will facility space in south korea to the to the millions of barrels of oil that theyre storing on that oil will eventually rise and i believe that theyre right now sean are we still looking at a chance that chinese Oil Storage Capacity could actually run out and oil prices overshoot even more to the downside. Its possible they dont really publish their numbers officially but from what i gather theres about 400000000 barrels that theyve already got in capacity that are that used and theyve got
A w. H. O. Is launching more than 80 Clinical Trials to find a cure. And now to give us the latest on how markets are reacting we welcome back shawn hyman editor of logical investor so shawn some analysts are saying that this outlook right now is way too pessimistic and that chinas economic stimulus measures could lead to a Global Recovery especially in oil demand and theres also the hope that opec will also cut supply again by 1700000. 00 Barrels Per Day though any decision made was obviously take time to implement so where do you think this equilibrium is at and have we reached a bottom or is this still more room to fall for oil prices. Its possible that theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see will fall further and therefore will fall through the 50 1. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on shorts and take that lower but i think that wil
This is the one business show you cant afford and that im. Bored washington is coming to the coronavirus continues to infect several sectors of the Global Economy especially with the drop in chinese for as we break down the slope of oil and where markets go from here. The u. S. Pressure to play against while way continue to heat up as the trumpet ministration is threatening to withhold intelligence breakdown the latest in the fight for fire. And later and social media facebook c. E. O. Is on the ground in buffalo new with you what effect could this meeting have on the block new regulation we have so much to dig into i thought lets go. The ground running. U. S. Equity markets are closed today but investors are bracing for the economic fallout from the corona Virus Outbreak Goldman Sachs cut a q one while price target by 10. 00 to 53. 00 amid weakening Chinese Oil Demand as the nation is on lockdown beijing is now trying to kickstart the Economic Activities in areas outside of the who pa
Heated debate yet. Breaking overnight, officials reveal the first two coronavirus deaths from the quarantined cruise ship in japan as hundreds more passengers are disembarking some experts are questioning if thats still a good idea were live with the very latest. Relentless 4 million americans waking up under flash flood watches this morning from rain that just will not let up as millions more brace for snow that could cause major chaos. Al has everything you need to know those stories, plus real talk the real i. D. Deadline is looming and officials are already warning dmvs and airports are not prepared for the crisis its official. A royal exit date for prince harry and Meghan Markle has the couple scrambling to figure ou whats next without the buckingham brand. Speedy recovery. Nascar driver ryan newman walks out of the hospital after that terrifying crash that could have cost him his life. This morning, touching images everyone is talking about today, thursday, february 20th, 2020. A
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