Historic crude oil market! Today’s crude oil market? "Key Points on April 21 and Event Schedule"

Yesterday, crude oil prices reached historic levels, and the crude oil futures market experienced historic volatility.

Futures prices for crude oil expiring at the end of May began to fall from the $15 range, fell below $0, briefly recorded minus $0, and ultimately closed at minus $37.

After 3:00 and after 4:00, different prices were shown by different brokerage firms, and there were situations where prices could not be displayed.

As a result of multiple factors including decreased demand due to the coronavirus, oversupply by producing nations, piled-up crude oil inventories, and contract expiry dates, it appears to have become a historic market.

◎ Today's Highlights

1) Crude Oil Prices

Yesterday, crude oil futures expiring at the end of May collapsed in price; just before the 21st expiry, a barrel fell below $0, recording a historic figure of -$37 per barrel.

The contract month changes today.

It will be interesting to see how crude oil prices move and whether the decline will stop.

Also, in response to the fall in crude prices, attention is on how producing countries will respond.

2) Easing of Restrictions / Movement Restrictions

Yesterday, New Zealand Prime Minister Jacinda Ardern announced that lockdown restrictions would be eased within a week.

Conversely, Turkish President Erdogan said he is considering a four-day lockdown of major cities from the 23rd.

There is a polarization between areas where movement restrictions are expanding due to rising infections and areas where infections are decreasing and easing is being considered and announced.

Today, we will also watch to see whether restrictions expand or ease.

◎ Today's Event Schedule

Tuesday, April 21

10:30 AUDRBA Board Minutes

14:00 AUDRBA Governor’s Speech

15:00 GBPUK Employment, Average Earnings, Unemployment

16:30 SEK Sweden Unemployment

18:00 EUR ZEW Germany Sentix

18:00 EUR ZEW Euro Area Sentix

21:30 CADCanada Retail Sales

23:00 USD Existing Home Sales

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