Crude Oil The coronavirus is a ‘black swan’ for oil and energy markets


New member
The coronavirus outbreak is a “black swan” for the oil and energy industries, Ned Davis Research said on Monday.
“The oil market is looking down the barrel at no demand growth for the calendar year, and outright demand contraction is now on the table,” analyst Warren Pies said.
At the end of January, the firm downgraded its outlook on oil to neutral from bullish, and Pies said that there could be more downside ahead.

On Monday, U.S. West Texas Intermediate crude fell to a 13-month low, as demand concerns continue to pressure prices.