WTI dropped into the low $20s on Wednesday, and the near-term outlook is grim. Oil lobbyists have pushed Congress for help, and a group of Republican Senators pleaded in a letter to the Saudi government to back off the price war , but there is little evidence to suggest that a dozen U.S. Senators will be able to convince Saudi Arabia to change course. In any event, the focus of the Senators on the oil glut is troubling, when the global pandemic continues to spread. In Bergamo, Italy, the death toll his climbed so high that the army was called in on Wednesday to move coffins. The number of deaths spiked in Spain, and the spread of the virus is accelerating in the U.S. In the U.S., the availability of coronavirus tests remains depressingly inadequate, and medical equipment is alarmingly scarce in much of the country. The shortage is […]