Wednesday, 22 Apr 2020 09:44 AM MYT
TOKYO, April 22 — Oil prices found some respite today as US oil futures rose more than 20 per cent and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak. "Global markets are struggling mightily with a temporary but overwhelming demand drop due to the coronavirus pandemic," said Stephen Innes, global markets strategist at AxiCorp, warning that prices could tumble further as storage fills up.
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Tokyo stocks open lower on oil price plunge | Malay MailTOKYO, April 21 ― Tokyo stocks opened lower today, tracking falls on Wall Street as investor sentiment worsened on plunging oil prices. The benchmark Nikkei 225 index was down 0.96 per cent or 188.84 points at 19,480.28 in early trade, while the broader Topix Index fell 0.94 per cent or 13.46...
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Oil market in turmoil as equities slump | Malay MailLONDON, April 21 — Oil-price turmoil gripped traders once more today, a day after US crude futures crashed below zero for the first time, as the coronavirus crisis cripples global energy demand and worsens a vast supply glut. The commodity rout also sent world equity markets spiralling lower, as...
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Oil giveaway spells doom, brings out market bears | Malay MailSHANGHAI, April 22 — The crash in US crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices. Markets are already unnerved at the spectre...
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Negative US$40 oil reflects panic ― and US crude market economic reality | Malay MailNEW YORK, April 21 ― Traders desperate to avoid owning oil fled the markets yesterday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the massive glut of oil present...
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