After yesterday's historic crash which left the West Texas Intermediate U.S. benchmark settling at -$37, panic is beginning to spread through markets, with Brent crude oil prices plummeting by over 20 percent into the $18 range in early morning trading.
KOCHI: The Centre’s decision to open glove-making units will provide the much-needed relief to rubber farmers, who have been left without income after the Covid-19 lockdown. As the glove units use rubber latex, the decision is expected to pave the way for the opening up of latex collection centres, numbering around 3,400 in the country. Of this, 2,400 are in Kerala.
TOKYO (Reuters) - The dollar resumed its climb against currencies of oil producers on Tuesday, as investors remained skittish after a historic plunge in U.S. crude futures to below zero and shied away from risk even as the benchmark bounced back.
SINGAPORE/WASHINGTON (Reuters) - U.S. crude oil bounced back into positive territory on Tuesday, after a historic plunge below zero that shocked investors and pushed down stock prices and Asian currencies.
WASHINGTON (Reuters) - Asia shares were poised to track a Wall Street tumble on Tuesday after U.S. crude futures turned negative for the first time in history, crushed by a spectacular collapse in oil demand as the coronavirus pandemic derails the global economy.
Dubai: US crude prices plunged to their lowest level in history on Monday as traders continue to fret over a slump in demand due to the coronavirus pandemic. Starting at an already record low of below $5 late on Monday, the future contract prices started trading in the negative within the hour. US benchmark WTI oil price closed at -$37.63/barrel in New York.