Oil prices may again fall into negative territory if Iraq doesn’t comply with OPEC+ deal
The year 2020 will be recorded as one of the most remembered years in the history of financial markets. The host of uncertainties ranging from Brexit, negative bond yields, global trade war, oil price crash and very recently the Coronavirus; the worldwide pandemic has made this world an unbelievable place to be in.
WTI oil prices have been volatile for the first half of 2020 with highs of $71.75/bbl on (8 January 2020) to the fall below “0” followed by negative price closing on (20 April, 2020) – with an open interest of 13,044 contracts in the NYMEX Futures April Expiry contract.
