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I: Primăvara 2020

Featured inside: * Corina Popescu,

Electrica SA * Ion Sterian, Transgaz*
Adrian Borotea, RWEA * Neil McGregor,
BRCC * Johan Gabriels, Ebury * Filip
Arboreanu PhD, Comisia Europeană *
Cristina Cremenescu PhD, Energy Coach

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Energy E ciency

The price of US oil stays in negative

The price of US oil stays in negative territory at least for one more day 0 territory at least for one more day

TUESDAY APRIL 21ST, 2020 EXPLORATION & PRODUCTION, OIL&GAS

INS: The share of economic agents
whose activity is reduced by more than
The price of oil has entered the negative territory on the US market, in the context of the wide reduction of 25% rose in April to 45%

the demand caused by the coronavirus pandemic and due to the depletion of storage spaces in the US. On
The Minister of Health asks us to have
Monday, at the end of the trading session, WTI contracts with delivery in May were minus $37.63 worth, the
patience for 7-10 more days; a strategy
lowest level since NYMEX opened oil futures in 1983. Negotiation of contracts with delivery in May ends on is needed to resume economic life
Tuesday, and this fueled selling mainly by large investment funds active in commodity markets.

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A relevant example is the USO (United States Oil) ETF, which attracted $ 1.5 billion in funds last week from investors
betting on oil prices to recover soon. However, as prices entered the negative territory, investors rushed to nd
buyers able to get physical deliveries, before the May contracts expired. A WTI barrel for delivery in May traded near E-mail Subscribe

-4.5 dollars, on Tuesday, 11 am, Romanian time; earlier the Asian trading had lifted the prices to slightly over $ 1 a
barrel.

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As of Wednesday, the market benchmark will be given by futures contracts with June deliveries – on Tuesday
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(Română) Ediția 26 Numărul I:

Primăvara 2020

Featured inside:
* Corina Popescu, Electrica SA * Ion Sterian,
Transgaz* Adrian Borotea, RWEA * Neil McGregor, BRCC * Johan Gabriels, Ebury
* Filip Arboreanu PhD, Comisia Europeană * Cristina Cremenescu PhD, Energy
Coach

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