Oil: "Picking the Bones Of Last Week’s Plunge into Negative Prices for WTI"

The FT's Energy Editor, David Sheppard, has some interesting observations on last week's mayhem:

Volumes of so-called TAS contracts were more than four times higher that Monday than on any day in 2019, and would be consistent with a large, not-particularly-sophisticated ETF or other oil-linked product looking to close out its position. #OOTThttps://t.co/L5jGky5qGc

— David Sheppard (@OilSheppard) April 28, 2020

THREAD

Reuters is headlining their take on the story:

China asks banks to halt new sales of products that may lead to unlimited losses

Sounds reasonable, at least for retail.