Tokyo Crude Oil Market Futures Price Drop Falling view on global economic slowdown Strengthening on April 21, 16:37
In the Tokyo crude oil market on the 21st, crude oil futures prices fell. This is because the view that the global economy will slow down due to the spread of the new coronavirus has become stronger.
The Tokyo Commodity Exchange on the 21st saw the spread of selling orders for crude oil futures, and became the center of the transaction. The closing price of the futures price of crude oil in September was 23,430 yen per kiloliter, which is 660 compared with 20 days. The rate fell by 2.7% in yen.
The price decline was an unusual situation where the WTI May futures price, which is an international indicator in the New York crude oil market on the 20th, fell to a minus that was virtually unbuyable for the first time, and spread of the new coronavirus infection This is because the view that the global economy will slow down has become stronger.
However, the trading of futures on the Tokyo market did not fall like the New York market because the trading system is different from the WTI.
A market official said, “Demand for crude oil is expected to remain sluggish for the time being due to stagnant global economic activity, and prices are expected to continue to decline. However, this situation, which fell to a negative level, is unusual. The next June price is around $ 20 / barrel, and we need to keep a close eye on it. "