The lack of demand for oil (and incredible supply build-ups) had led to WTI Crude oil to fall below … $11!
WTI Crude (Cushing, OKLA) is now at an all-time low.
Crude oil prices in the Middle East are … negative?
On the hotel front (government lockdowns are pretty bad for travel and hotels!), in comparison with the week of 7-13 April 2019, the industry recorded the following:
• Occupancy: -69.8% to 21.0%
• Average daily rate (ADR): -45.6% to US$74.18
• Revenue per available room (RevPAR): -83.6% to US$15.61