Coachlines - May 2020

02.05.20 Liveryman Mike Goggin

Can you believe the headline recently?

The crude oil price per barrel went into negative territory. Yes, if you expected delivery recently there was nowhere to store it so you had to sell on your contracted purchase without taking delivery and what a price you had to pay to do that. Like any commodity, price is driven by supply and demand but with planes grounded, cities empty of vehicles and industries frozen we have ‘demand destruction’.

Follow the link for an interesting article by the BBC’s Business Editor Simon Jack.