• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours What China is Learning from Russia's War in Ukraine and its Consequences
  • 4 days Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 6 days How cheap Chinese tires might explain Russia's 'stalled' 40-mile-long military convoy in Ukraine
  • 3 hours Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 2 days Failure To Implement Russian Oil Ban Could Send Oil Crashing To $65
Editorial Dept

Editorial Dept

More Info

Premium Content

Oil Storage Nears Its Limit

1. Potential debt crisis could hit commodity exporters hardest

- Emerging market assets have seen risk premiums spike, and commodity-exporting countries are seen as particularly risky.

- Venezuela, Argentina and Lebanon have already defaulted on debt payments.

- An estimated 90 countries have already turned to the IMF for emergency financing.

- Calls for a debt “standstill” arrangement at the global level are rising in order to buy time for developing countries so that they don’t face deeper crises. Absent some sort of agreement from creditors, debtors, governments and multilateral banks (IMF, World Bank, etc.) a broad debt crisis could explode.

2. Palladium market in deficit

- The market for palladium could face a deficit through 2021, despite the steep fall in auto sales, according to a report from Standard Chartered.

- The bank says that the deficit may now only be 327,000 ounces in 2020, a narrower gap than the 1.3 million ounces previously anticipated.

- More than 80 percent of palladium is consumed in the auto market.

- But the demand destruction from weaker auto sales has been partially offset by supply-side issues. South Africa, which accounts for 38 percent of global palladium output, announced a 21-day shutdown beginning on March 27, a measure that was extended through the end of April at least.

- Global supply could fall by 10 percent this year largely because of Covid-19-related…





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