The Week Oil Got Weird

Barron's Streetwise

Barron's

Business

4.7 • 1.6K Ratings

🗓️ 24 April 2020

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chaotic trading in crude oil, what it means for the energy sector, and why tankers are sitting pretty. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	First, the bad news.
0:01.6	SAP Business AI won't generate amusing holiday cards.
0:04.7	But it will personalize career paths for your people
0:06.9	and let you know which suppliers are best,
0:08.7	so you can be ready for the next opportunity.
0:10.7	Revolutionary technology, real world results. That's SAP business AI.
0:15.0	In the fourth quarter last year we generated annualized free cash flow of
0:21.4	400 million dollars in CK Tangers.
0:24.0	Based on today's rates that we are seeing, that would jump to annualize 650 million.
0:31.0	I'm Jack Howe.
0:33.0	Welcome to the Barron StreetWise Podcast.
0:36.3	The voice you just heard, that's Kenneth Vid.
0:39.0	He's CEO of a company called TK.
0:41.7	They run giant ships that transport oil from place to place. So why is he talking
0:46.4	about his free cash flow, potentially being up more than 50% this year, at a moment when economic
0:52.4	activity is slowing and the oil price is
0:55.6	collapsing. It's one example of why oil just got weird. In a moment we'll talk to
1:02.3	Kenneth and hear from some Wall Street
1:03.8	experts about why. Meta, I have a money-making proposition for you.
1:10.4	Okay, let's hear it. All you have to do is you have to receive a barrel of crude oil and it's free.
1:19.6	And then I'm pretty sure you can sell that barrel of crude oil at the end of the summer for maybe more than $20.
1:27.0	How does that sound?
	...

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