A risk on scenario has dominated markets in the last few days. Central banks’ huge easing decisions and growing expectations for a relatively quick solution to coronavirus – or at least for ending the lockdown – are giving some relief to oil with the June contract of WTI recovering to $14.
The modest gains have been achieved despite ETFs rolling over their contracts well in advance of the actual expiry of the front-month contract order to avoid a similar situation to what happened last week when the May expiry turned negative in its final day.
