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Oil discharge is cheaper than bottled water! Wall Street shares plummeted Kovit’s knot aggravated
Oil shock cheaper than bottled water – AP reported that on April 20, trading on Wall Street collapsed in the afternoon in the US. USA As crude oil prices in the US market fell below bottled water.
The S&P 500 stock index fell at 1.30pm, 0.8%, Dow stocks fell. 283 points or fell 1.2%, while the Nasdaq also plummeted. After the drama, the price of oil fell below $ 1.5 or around 50 baht per barrel.
The Motiva Refinery, the largest oil refinery in North America, is displayed on Monday, March 23, 2020 in Port Arthur, Texas. AP Photo / David J. Phillip)
The decrease in oil prices is based on technical factors. Since the oil contract in May has almost ended While the market people see that oil trade will continue to decline. Because the demand for oil is in a state of collapse According to the effect of Covid-19 And the place of storage of oil is almost overflowed
Analysts see the disease outbreak as turbulent. The important thing is that it cannot be assessed that when will this effect end? Oil’s tendency to be less or less profitable for the rest of 2020, especially in the United States.
Due to the price of crude oil in the Brent market, another world standard fell 1.78 dollars to 26.30 dollars per barrel. Even the main oil producers reduce production to balance demand and supply. But the reduction is not enough to affect the price.
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