Day: June 21, 2020

From Negative Prices to a Bull Market

(Bloomberg) — Every day, traders in London congregate at 4 p.m. to buy and sell North Sea oil for half an hour. The window, as it’s known in the industry, is where competition between the most powerful players in the market sets the price of Brent crude.

Two months ago, every trader wanted to sell cargoes and none were keen to buy. Now the window has transformed into a bull market, where bids outnumber offers 10 to one and prices are surging.

“The physical market is strong,” said Ben Luckock, co-head of oil trading at Trafigura Group.

The turnaround reflects

Boycotting Chinese goods? Be prepared to pay more for your next smartphone, TV, car, other items

Chinese brands dominate here and any higher duties would impact the market in terms of prices of the phones.

While the anti-China sentiment is high across the country, especially for made in China products, a boycott, and an immediate one at that is far from feasible. Firstly, if the government buckles under the pressure of the rising chorus to boycott Chinese products by raising import duties on them, it is the consumers who will feel the hardest pinch as prices will increase for a host of items ranging from mobile phones, smart TVs to cars. Even if several of these

Green certificate sales down 55 pc to 3.33 lakh in May

IEX and PXIL are engaged in trading of RECs and electricity.

Sales of renewable energy certificates dropped over 55 per cent to 3.33 lakh units in May compared to 7.5 lakh in the same month a year ago, according to official data. Renewable energy certificate (REC) is a type of market-based instrument. One REC is created when one megawatt hour of electricity is generated from an eligible renewable energy source.

According to official data, a total of 2.78 lakh RECs were traded on the Indian Energy Exchange (IEX) in May, compared to 5.5 lakh in the same month of 2019.