Demand Drop: The Latest in the Oil Price War

By David Fessler It’s clear that the world has changed due to COVID-19. We are in uncharted territory on so many levels.
Last Thursday, jobless claims shot up 33% from the prior week to 281,000. But that will likely be just the tip of the iceberg.
Goldman Sachs is predicting we’ll see 2.25 million jobless claims in this week’s report.
And some economists are predicting unemployment could hit 10% or more. We haven’t had that many people (about 16.5 million) out of work since the Great Recession.
The virus is also having a big impact on the oil sector. Last Wednesday, oil prices dropped to 18-year lows.

But …read more



Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.