Another big fall in oil prices dragged hordes of petrocurrencies under on Tuesday but even an HSBC warning of mounting bad credit and a near 80% plunge in BP’s profits could not keep stock markets down for long. There was some relatively good news to go with the bad and ugly numbers. Plans to ease major economies out of coronavirus lockdowns were continuing, UBS lifted European banks 4% with reassuring earnings, while Italy’s bonds recovered further after it had dodged a damaging credit rating downgrade on Friday. Oil was total carnage though. U.S. WTI CLc1, which went negative last week, dived 20% in Europe after a scramble by the United States Oil Fund (USO) ( USO.P ), the largest oil-focused U.S. exchange-traded product, to shift its holdings had underscored the dwindling capacity to store excess supply. Benchmark brent Brent LCOc1 was down a more manageable 4.7% […]