by Mike ‘Mish’ Shedlock
After dipping into negative territory crude is back ato $40. What does that mean?
Oil analyst Phil Flynn says Oil’s Road Back to $40 Signals Economic and Job Snap Back.
The road back to $40-a-barrel oil was fraught with fear and uncertainty, but eclipsing that benchmark indicates the beginning of a strong recovery from the economic shutdown. The global economy crashed to a screeching halt as the coronavirus shut down the world, causing global oil demand to crater like never before.