LINKTV Newsline July 13, 2024
Deliveries fell to at one point. The historic drop was partltly e to market mechanics with the may delivery contract close to expiring itsts tradingng volume light. Storage facilities are also at their limit as producers run out of places to keep the oil. Market players say that traders dump the may contract as the cost to store and transport crude oil are expected to be higher with no potential consumers. The plunge highlights current concerns about the volatility in the global market. Major Oil Producers including saudi arabia and russia reached a deal last week to prop up prices by cutting ...
Source: archive.org