Half of the trading day in today’s afternoon session of the Moscow stock exchange will not conduct an auction of the April futures for oil Light Sweet Crude Oil, known as WTI.
this is stated on the website of the Moscow exchange. Thus an attempt will be made to avoid additional negative consequences in connection with yesterday’s unprecedented drop in the price bid the April contract on the NYMEX exchange. Recall that the price of WTI went negative.
“the strike Price of the contract is the value of the settlement price of the relevant futures contract, which is determined by the exchange NYMEX trading results April 20, and equal to minus 37,63 USD per barrel”, – stated in the message of the Moscow exchange. The rest of the series of futures contracts for oil grades Light Sweet Crude Oil and Brent will continue to trade unchanged.
the Fall in oil prices provoke quarantine measures taken worldwide to stop the spread of the coronavirus. According to forecasts of the International energy Agency, the excess supply of oil in April amounts to 29 million barrels/day.