Oil Options Hit Highs as Verleger Predicts 44% Plunge (Update1) - Bloomberg.com
More than 60 million barrels of fuel is stored on tankers offshore, according to the IEA.
“There’s all this heating oil with no place to go,” Philip Verleger, a professor at the University of Calgary and head of consultant PKVerleger LLC, said in a phone interview. “I’m fairly certain we’ll see prices in the $30s this year.”
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