U.S. oil prices tumbled to their lowest level in more than 21 years on Monday, with crude storage facilities filling rapidly as the coronavirus pandemic continues to crush demand.
The May contract of U.S. West Texas Intermediate (WTI) futures fell to $11.82 a barrel on Monday, down more than 35%. It had slipped as low as $11.04 earlier in the session, to register its lowest level since December 22, 1998, before paring losses.
Oil now trading at minus USD 17. Zero buyer at US oil futures trading. Not USD 17 but minus 17. Avoid crude oil stock for the time being. Trade on your own risks
Singapore: US oil prices surged Wednesday after a turbulent start to the week that saw them fall below zero for the first time due to a coronavirus-triggered demand shock.
US benchmark West Texas Intermediate for June delivery rose 18.93 per cent to $13.76 a barrel, after suffering heavy falls in New York overnight.
WTI for May delivery on Monday collapsed to an unprecedented low of minus $40.32 as traders scrambled to sell it before the contract expired Tuesday, but could find few buyers with storage capacity fast filling up.
European benchmark Brent crude for June delivery was up 0.98 percent at $19.52 a barrel, after tumbling to an 18-year low the previous day.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Investsucess Trader
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Posted by Investsucess Trader > 2020-04-20 19:09 | Report Abuse
Not the time to buy??? oil price crashing....