The Worst Is Still To Come For Oil Markets

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are in a position to finish the week sharply lower despite stimulus efforts by policymakers around the world against demand destruction caused by the consequences from the rapid spread of the coronavirus. Both markets are down nearly two-thirds this year and sinking economic activity and fuel demand are expected to worsen as oil companies curtail investments in future activity. Bearish news continued to dominate the trade this week although some investors saw potential…