Under $0 Crude Futures: Brokerages Move Court Against MCX, Sebi

[ad_1] Mumbai: Two brokerages on Wednesday moved the Bombay High Court against Multi Commodity Exchange (MCX) and the Securities and Exchange Board of India (Sebi) over negative settlement of a futures contract in oil after the heavy fall in the price of crude globally. Motilal Oswal Financial Services and PCS Securities have challenged an April 21 circular issued by […]

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US Oil Price Crash Amid Coronavirus Crisis, What Next? Here’s What Analysts Say

[ad_1] WTI Crude Oil Price: The May contract recouped some losses on Tuesday to be just in positive territory A historic rout in oil markets sent US crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced […]

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US Oil Prices Crawl Back To Positive Territory After Record Fall Below $0/Barrel

[ad_1] The prices of June oil futures contracts continued to trade above $20 per barrel Crude Oil Crash: US crude oil futures turned negative for the first time ever on Monday, as the coronavirus pandemic and resultant lockdowns have paralysed the world economy and caused apprehensions about a swift return to growth. West Texas Intermediate […]

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Crude Oil Price Rises Over 1% On Hopes For Stockpile Purchases

[ad_1] Crude inventories rose by 13.1 million barrels last week, more than analysts’ expectations Tokyo: Oil prices rose on Wednesday as investors looked for bargains after the previous session’s slump and on hopes that consuming countries will look to fill their strategic reserves, although oversupply fears and warnings of a deep recession capped gains. Brent […]

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Crude Prices To Continue To Fall In Coming Weeks, Historic Deal Insufficient: Goldman Sachs

[ad_1] Goldman Sachs said a bigger output cut by G20 nations would also not help much Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a “historic yet insufficient” deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. The […]

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Saudi Arabia, Russia Outline Record Supply Cut As Demand Crashes On COVID-19

[ad_1] Brent oil prices traded around $32 a barrel on Thursday, half their level at the end of 2019 Highlights OPEC, Russia, others to cut output by more than a fifth Talks among top global energy ministers to resume on Friday Global fuel demand has plunged 30% of supplies DUBAI/MOSCOW/LONDON: The Organization of the Petroleum […]

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