Coronavirus and the oil market:
The effects and what to expect
by Reed Blakemore
The response in oil prices has been significant. Brent prices hit a twelve-month low last week, with the near-term outlook looking grim and the forecast looking increasingly dark for the balance of the year. During that period the forward curve, a marker of expected per-barrel value over the rest of the year, has flattened in the past week, signaling that oil traders see no value in holding or selling off their stocks. At week’s end, Brent was trading at slightly over $50 per barrel with West Texas Intermediate (WTI) prices hanging on at $45.26.