Oil to stay under pressure; eyes on fiscal measures to address coronavirus

On top of the virus-related demand concerns, oil markets are also contending with an imminent surge in supplies from Saudi Arabia and Russia as the two nations face off in a very public way

Crude oil has indeed taken the brunt of the coronavirus (COVID-19) health scare and was one of the first markets to be impacted by the sell-off in risk-assets. The full demand impact of the virus is still unclear, but oil consumption is certainly under severe pressure as countries continue to escalate measures to stem the spread of the virus. In our view, jet fuel demand will continue to suffer well into the summer months due to the widespread travel bans that have been put in place. Fuel oil demand will also suffer as the cruise-line industry slows dramatically. Even after