Market Meltdown

Unless you’re a bear hibernating, everyone knows the Coronavirus is causing panic and particularly panic in the markets. Speaking of bears, we are now possibly entering a bear market.

The S&P 500, at writing, is down to 2,510, over 25% from its highs and WTI crude oil is trading at $30.98/barrel, down over 50% for this year. A bear market is defined as a decline of 20% or more for a period of time. It certainly feels like we are indeed entering a bear market.

With the rapid spread of the Coronavirus, companies are telling employees to work from home, the NBA has postponed the rest of the basketball season, Italy has quarantined the entire country, and Europeans will not be able to fly to the United States for 30 days beginning this weekend – just to name a few repercussions of the virus without a vaccine.

All of this creates uncertainty. Markets do not like uncertainty. However, it also creates opportunity. If you are a fuel buyer and want to take advantage of these historically low fuel levels in the future, please call your Sales Representative here at Guttman Energy. We have multiple programs that will be able to fit your needs.

Written by:

I enjoy helping our customers understand the commodity markets and pricing solutions we can offer to best fit their business. My supply and trading experience in gasoline and distillate products allow me to provide a comprehensive view of our industry to make our customers feel comfortable with their fuel-related decisions.

Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED “AS IS,” WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.