Browsing: Franklin Templeton

Last week we saw negative oil prices hurt energy markets enormously, and we have the global pandemic—coronavirus (COVID-19) to blame for that, as nearly the entire globe is on lockdown, that sucks the life out of energy-consuming spheres.

Reports indicate mixed feelings as Bloomberg noted that, oil prices could go down again, as storage shortage becomes another nagging factor to the problem, and yet—we have seen people paying to get rid of their stock.

“The last trade of the May WTI futures was on April 21, and on April 20, as financial traders with long positions scrambled to get out of the contract, the price fell to negative $37.63 per barrel. Then on April 21, it was fine again, and the contract finished at $10.01. Even on April 20th, most trades in the May futures happened at positive prices. But toward the end of the day, panic—or something—set in, …