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.

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WTI Crude Approaches 7-Month Low

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.

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