EurOil - Europe Oil & Gas
More than 150 investors are preparing to launch a class action lawsuit against the Moscow Exchange (MOEX) worth RUB1bn ($13mn), after West Texas Intermediate (WTI) futures closed at a negative prices, but did the Urals blend also go into the red?
Did Russian President Vladimir Putin just screw up in a spectacular fashion? Russia pulled out of the OPEC+ production cut deal on March 6, setting off a downward spiralling of prices that ran out of control
The unprecedented crash in WTI prices into negative territory has been attributed primarily to the mechanics of futures contracts, but nonetheless illustrates an oversupply crisis as storage fills up.