The US commodities regulator on Wednesday issued a rare warning to brokers, exchanges and clearing houses, cautioning them that oil prices could again reach sub-zero levels.
It may be recalled that the May crude oil futures on the New York Mercantile Exchange (Nymex) had settled at an unprecedented negative rate of minus $37.63 a barrel. This rattled the brokers, exchanges and traders worldwide. India’s MCX was no exception, with several traders and brokers suffering huge losses.
In the light of the negative price, the US Commodity Futures Trading Commission (CFTC) has issued fresh warning to all participants.
