Daily O

Clear picture of negative crude oil price

Neither David Ricardo nor Harold Hotelling would have dreamt of a world where the negative price of an exhaustible resource can prevail. Yet, it has already happened! On April 20, a sudden 300% plunge in WTI led to the negative price of minus $37.63 a barrel at the New York Mercantile Exchange (NYMEX), the global price discovery platform for crude oil.

Following the world

The situation has created rigmarole in market clearance across commodity derivatives markets of the world. In India, the Multi Commodity Exchange of India (MCX), which is the national level price discovery

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