The oil crisis will be prolonged as restarting production in the Gulf will take months: Kilduff

John Kilduff says oil storage in the Gulf is "100% the problem" and that the energy market will remain under pressure for longer. This highlights continued downside risk for crude prices and persistent storage/glut concerns that could weigh on refining margins, tanker rates and E&P cash flows in the near term.

Analysis

John Kilduff says oil storage in the Gulf is "100% the problem" and that the energy market will remain under pressure for longer. This highlights continued downside risk for crude prices and persistent storage/glut concerns that could weigh on refining margins, tanker rates and E&P cash flows in the near term.