• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Does Toyota Know Something That We Don’t?
  • 7 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 days America should go after China but it should be done in a wise way.
  • 7 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 6 days China is using Chinese Names of Cities on their Border with Russia.
  • 7 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 6 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 7 days Putin and Xi Bet on the Global South
  • 7 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 8 days United States LNG Exports Reach Third Place
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
How To Play The Nuclear Power Renaissance

How To Play The Nuclear Power Renaissance

A nuclear renaissance seems likely,…

Iraq Moves to Take Control of Kurdistan's Finances

Iraq Moves to Take Control of Kurdistan's Finances

The Iraqi federal government is…

Editorial Dept

Editorial Dept

More Info

Premium Content

2020: A Historic Year In Review

For most people, the idea of looking back on the last year is probably not that appealing. The phrase “because, you know, 2020…” has become a punchline, and for good reason. This year will forever be remembered as the year that Covid-19 arrived, killing hundreds of thousands of Americans and over 1.5 million people worldwide. With that tragedy came the attempts to limit the carnage, at least for a while, businesses closed, and people stayed at home, resulting in the largest single-quarter drop in GDP ever, massive job losses and devastation for small businesses.

Still, looking back is what most people, and especially traders, do at this time of year. We learn from our mistakes, resolve to repeat our successes, and make educated guesses as to what we can expect next year.

From an energy trading and investing perspective, 2020 was a historic year. It started well enough, with WTI trading above $60, then the decline began. It was so big and so fast that in April, for the first time ever in the long history of oil futures trading, a contract went negative. For a short time, rather than paying for crude, you got paid up to $37 a barrel for taking it as a contract expired. Even for delivery a month out, WTI traded as low as $6.50 per barrel... That was the result of a “perfect storm” of epic proportions.

U.S. output, encouraged by a White House that seemed intent on repealing every regulation on the oil industry, passing every…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News