Tokyo crude oil market plunges 31% upturn Instability due to new corona 16:23 on April 23
The Tokyo crude oil market, which fell sharply on the 22nd, ended the transaction with a 31% increase on the 23rd. However, as the demand for crude oil has fallen due to the spread of the new coronavirus, the crude oil market is expected to be unstable for the time being.
In the Tokyo crude oil market, crude oil futures prices temporarily hit a low for the first time in 18 years on the 22nd, but on the 23rd, buying orders swelled immediately after the start of trading.
As a result, the futures price of crude oil for the month of September, which is the center of the transaction, was 21,330 yen per kiloliter, an increase of 5090 yen, or 31%, from the closing price on the 22nd, ending the transaction.
This is the WTI's June futures price, which is an international indicator in the New York crude oil market on the 22nd, temporarily rose to $ 16 / barrel and the global crude oil price was stopped. As a result, there is widespread view that oil-producing countries may take additional cuts in production.
A market official said, “The crude oil market will continue to be volatile because the demand for crude oil has fallen due to the spread of the new coronavirus and the production is over-producing. I am very interested in whether or not I can take it. "