News Formal

Chaotic overnight crude oil market sends ringgit lower at opening | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 86%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

KUALA LUMPUR, April 21 ― The ringgit opened marginally lower today following a chaotic overnight session in crude oil markets which saw the US crude oil futures plunged to below US$0 for the first time in history. At 9.01am, the ringgit weakened to 4.3780/3880 against the US dollar from...

At 9.01am, the ringgit weakened to 4.3780/3880 against the US dollar from 4.3700/3770 at yesterday’s close. — Reuters pic

At 9.01am, the ringgit weakened to 4.3780/3880 against the US dollar from 4.3700/3770 at yesterday’s close. “The sharp plunge in demand has caused storage saturation levels to the brim, forcing sellers to pay buyers to take May barrels.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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...
Source: malaymail - 🏆 1. / 86 Read more »