In 2020 I was highly critical of the government for giving Yellow Freight a $700MM bailout. Now the company is threatening bankruptcy. “Without [restructuring operations that Yellow labels as] crucial reforms, which are standard practice in the industry today, Yellow likely will not survive,” Source Yellow.
The headline: Oil traders are betting that crude prices will fall despite Saudi Arabia’s efforts to throttle output. The reality: Oil prices are up today (Noon CST Monday).