While it may be tempting to argue that the worst is behind us for oil price given the historic collapse in WTI which crashed to negative $40 on Monday as holders of May WTI futures panicked to sell their holdings at any price - even paying the "buyer" for taking possession of the deliverable barrels - Goldman's chief commodity strategist Jeffrey Currie reminds us that it is important to remember that unlike bonds and stocks, "commodities are spot assets, not anticipatory assets and must clear current supply and demand, which still remain extremely out of balance in all markets." And since oil supply remains ... (full story)