Crude oil prices rose on Monday, supported by tighter supplies and a string of data expected to show economic recovery across the globe and despite a spike in coronavirus cases in the United States and other countries.
NYMEX Natural Gas
Oil Tumbles After Biggest ETF Said It Is Exiting June Contract
Futures in New York slid as much as 30%, snapping a four-day recovery as the United States Oil Fund LP said it will move all the money it invested in the front-month June WTI oil contract starting today, triggering a massive swing in the price relationship between the June and July contracts.
MCX Natural Gas Tips – Above 142 Buy Target 158—162 – Neal Bhai
MCX Natural Gas Tips – Above 142 Buy Target 158—162 – Neal Bhai. US shale oil production shut-in announcements have increased materially in the past two weeks. And after the record setting negative WTI contract move on Monday, we are likely to see even more pronounced shut-in announcements in the coming weeks.
Oil Jumps in Early Asia Trading After Two Days of Huge Selloffs
West Texas Intermediate oil jumps for June delivery gained $1.16 to $12.73 a barrel at 6:04 p.m. in New York. That stemmed a massive selloff over the past two days that took the May contract below zero.
Crude Oil Plunges Below Zero for First Time in Unprecedented Wipeout
The crude oil price on the futures contract for West Texas crude that is due to expire Tuesday fell into negative territory — minus $37.63 a barrel. The reason: with the pandemic bringing the economy to a standstill, there is so much unused oil sloshing around that American energy companies have run out of room to store it. And if there’s no place to put the oil, no one wants a crude contract that is about to come due.
Crude Oil (WTI) Bullish Above $57 / MCX Above ₹4100 Only Buy – Neal Bhai Reports
Crude Oil prices will have a major impact on the direction that the Russian economy will take, according to the chief executive of the Russian Direct Investment Fund (RDIF), but the country’s alliance with major oil producer group OPEC (known as OPEC+) is “ready to act” if necessary, he said.