Oil Market Snapshots — Will oil supply glut continue, what will happen with oil prices?

David Haggith writes

-Shell’s job losses are about to match Facebook’s total payroll.
-More than 65% of banks in the Persian Gulf reported an increase in defaults in the first quarter of the year.
-Tankers are running circles around the Chinese port of Qingdao.
-Singapore’s waters have never been so full of waiting oil tankers.
-Many of those tankers belong to Glencore, which is cornering the market in Brent crude.
-Temporary oil supply interruptions are fading away faster than people thought they would.

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