China Markets oil

Good Vibes, Bad Oil And Chinese Non-Profits

It wasn't all good news, though.

Risk appetite was evident to start the new week as the prospect of major western nations taking the first tentative steps to reopen their economies bolstered sentiment. The Bank of Japan's decision to remove the cap on JGB purchases and expand its support for corporate paper added to the good vibes. Equities advanced in Europe and Asia and US stocks are gunning to extend the bounce off March's bear market lows. Coronavirus deaths slowed over the weekend in Italy, Spain and France, and Andrew Cuomo nodded to a cautious, phased reopening of New York starting as soon as May 15. It wasn't all good news, though. WTI futures plunged 16%, sinking back below $15 barrel as supply concerns continue to hang over the market and producers move to cut production in a futile effort to offset the largest demand shock in history. South Korea ran out of commercial storage space on Monday, as sources told Bloomberg nearly the entirety of Korea National Oil Corp and Oilhub Korea Yeosu Co's onshore capacity is rented. Goldman says the world will bump against aggregate storage capacity limits within a month. Ultimately, with the demand shortfall set to be some 18 million barrels per day midway thr
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2 comments on “Good Vibes, Bad Oil And Chinese Non-Profits

  1. Devalued currency is likely the reason for bullish stocks. The shares won’t be worthless, even if the currency is. Think Venezuela with less hyper inflation. Thx H

  2. When an investor wakes up in the morning and her first thought is “Turkish equities” something is amiss.

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