Two decades ago, the Bombay Stock exchange had a strange device called ” Undha Badla”. In its own way this was a way for short sellers to pay a price and defer the delivery in a market where “borrowing” stock was not possible. The case of Oil is somewhat similar.
When Covid hit mobility across the world, the demand for oil fell sharply. Prices collapsed but more importantly Oilgushing out of the wells suddenly had no where to go. People who had contracted deliveries suddenly found themselves looking for a place to store their oil and as rents soared, the cost of storage soon exceeded that of the cost of Oil. So much so, that people had to pay to avoid delivery. Voila – negative prices….
When Covid hit mobility across the world, the demand for oil fell sharply. Prices collapsed but more importantly Oilgushing out of the wells suddenly had no where to go. People who had contracted deliveries suddenly found themselves looking for a place to store their oil and as rents soared, the cost of storage soon exceeded that of the cost of Oil. So much so, that people had to pay to avoid delivery. Voila – negative prices….
When you collapse an accordion item and save, it will automatically display collapsed in front end
Accordion Item
When you collapse an accordion item and save, it will automatically display collapsed in front end