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.