Oil Prices Fall Heavily Into Negative Territory
Tuesday 21st April 2020 Yesterday on the Morning Call we raised the prospect of oil prices lurching into negative territory. This morning, that’s exactly what has happened for WTI, with a vengeance. Phil Dobbie talks to NAB’s Ray Attrill about why this happened and the impact on other sectors – which has actually been fairly constrained. There’s also discussion on government stimulus measures – including signs that the furloughed worker approach is working – plus, words from the RBA Governor today and the New Zealand easing of restrictions.