ලෝකේ පළමු වරට තෙල් මිල නෙගටිව් වෙයි
සල්ලි දීල තෙල් ගන්නවා වෙනුවට ...තෙල් පාවිච්චි කරනවට සල්ලි දෙනවා !
US oil prices turn negative as demand dries up
The price of US oil has turned negative for the first time in history.
That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May.
Demand for oil has all but dried up as lockdowns across the world have kept people inside.
As a result, oil firms have resorted to renting tankers to store the surplus supply and that has forced the price of US oil into negative territory.
The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, fell as low as minus $37.63 a barrel.
Record deal to cut oil output ends price war
Coronavirus: Who is still flying?
Seafarers in limbo as coronavirus hits shipping
The severe drop on Monday was driven in part by a technicality of the global oil market. Oil is traded on its future price and May futures contracts are due to expire on Tuesday. Traders were keen to offload those holdings to avoid having to take delivery of the oil and incur storage costs.
Oil prices turned negative. Hundreds of US oil companies could go bankrupt
New York (CNN Business)The American oil industry is facing a doomsday scenario.
The coronavirus pandemic has caused oil demand to drop so rapidly that the world is running out of room to store barrels. At the same time, Russia and Saudi Arabia flooded the world with excess supply.
That double black swan has caused oil prices to collapse to levels that make it impossible for US shale oil companies to make money. US crude for May delivery turned negative on Monday -- something that has never happened since NYMEX oil futures began trading in 1983. It was easily the oil market's worst day on record.
US crude for June delivery is still trading above $20 a barrel -- but even that's disastrous.
https://www.bbc.com/news/business-52350082
සල්ලි දීල තෙල් ගන්නවා වෙනුවට ...තෙල් පාවිච්චි කරනවට සල්ලි දෙනවා !
US oil prices turn negative as demand dries up
The price of US oil has turned negative for the first time in history.
That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May.
Demand for oil has all but dried up as lockdowns across the world have kept people inside.
As a result, oil firms have resorted to renting tankers to store the surplus supply and that has forced the price of US oil into negative territory.
The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, fell as low as minus $37.63 a barrel.
Record deal to cut oil output ends price war
Coronavirus: Who is still flying?
Seafarers in limbo as coronavirus hits shipping
The severe drop on Monday was driven in part by a technicality of the global oil market. Oil is traded on its future price and May futures contracts are due to expire on Tuesday. Traders were keen to offload those holdings to avoid having to take delivery of the oil and incur storage costs.
Oil prices turned negative. Hundreds of US oil companies could go bankrupt
New York (CNN Business)The American oil industry is facing a doomsday scenario.
The coronavirus pandemic has caused oil demand to drop so rapidly that the world is running out of room to store barrels. At the same time, Russia and Saudi Arabia flooded the world with excess supply.
That double black swan has caused oil prices to collapse to levels that make it impossible for US shale oil companies to make money. US crude for May delivery turned negative on Monday -- something that has never happened since NYMEX oil futures began trading in 1983. It was easily the oil market's worst day on record.
US crude for June delivery is still trading above $20 a barrel -- but even that's disastrous.
https://www.bbc.com/news/business-52350082
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