Black Gold has fallen from grace. And How! US crude WTI sank into negative territory for the first time in history at -$37/barrel and Brent, the benchmark for two-thirds of the global oil trade, settled at 18-year low of $21.48 on Tuesday, sending traders and the global oil industry scurrying for cover.
WTI | lyricsfreak.eu
The negative closing for WTI crude on the Nymex on Monday night has caught a large number of Indian buyers of crude oil contracts on the MCX here on the wrong foot. These investors are now together expected to pay about Rs 410 crore to the sellers.