Market Extra: Oil-price pain likely to continue as glut builds over next 4 to 6 weeks, says trader who has scored 34% 2020 gain on crude rout

Market Extra: Oil-price pain likely to continue as glut builds over next 4 to 6 weeks, says trader who has scored 34% 2020 gain on crude rout

The fund, which has benefited in part from short bets on gasoline, crude and other commodities, is up 34% year-to-date, King said.. When the lockdowns end, much will depend on how quickly economies can revive and how producers, including those in the U.S. shale patch, continue to respond, King said.. Refiners are running at low capacity because gasoline demand has fallen as much as 50%, and storing gasoline is more onerous than storing crude or distillates, King said.. Gasoline futures jumped 25% on Wednesday to end at 63.84 cents a gallon.. The latest round of turmoil in the oil market has been blamed for renewed volatility in the stock market, with the Dow Jones Industrial Average. Falling earlier the week as oil prices collapsed and bounced Wednesday as crude prices stabilized.. King and others at the fund have experience trading in the physical energy market, which he said allows them to "understand what's happening in the in the oil market at the real guts of it rather than just a number moving up and down on a on a screen.". Read: Why oil prices crashed into negative territory - 4 things investors need to know. Also see: The oil