The Oil Storage Crisis Is Far From Over

It’s more than a month since the oil markets sunk to a nadir in the mother-of-all market routs. Since then, oil prices have staged an impressive recovery, especially from WTI’s negative trade zone visited on April 20. There’s real optimism in the air with the formidable headwinds of a massive supply glut and limited storage nearly in the back mirror while the markets even recently dodged a big bullet.  Yet, resting uncomfortably in the back of trading minds is this: Oil storage remains painfully squeezed, raising the…