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YGRN - Weekly Energy Recap: Wake-Up Call For The Oil Industry
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
The oil market has come through the most frenetic week in its history - especially so for the US WTI grade that controversially was allowed to fall into negative territory.
On April 20 it closed at an almost unbelievable minus $37 per barrel (for the end of May contracts) before recovering to $16.94 per barrel.
Despite the drama, the US measure finished the week only $1.30 lower than the previous week closing.It was also a roller-coaster ride for Brent crude, which tumbled to a 21-year-low, first dropping to about $16 before recovering to $21.44.