US Futures are 1% lower this morning after another setback in OIL prices that are trading at $14.22 per barrel this morning for the May contracts. June contracts took a 7% dive as well and are trading at $23 per barrel. The demand collapse in the Western Hemisphere as well as lack of storage capacity are putting a huge dent in OPEC+ and US President Trump attempts to stabilize the energy markets and save thousands of US jobs in the sector. EU markets are trading marginally lower this morning awaiting a calm Monday session while coronavirus cases are taking a most welcomed downturn and many EU countries are thinking already beyond the lockdown stage. FX markets are trading a lackluster session as well, the dollar index is at 99.74 this morning, up 0.09%. Gold and Silver are trading near the flat line, Gold is at $1,691 this morning, down 0.3% and Silver is at $15.35 per ounce, up 0.25%.
There is no important news on the agenda Monday, (all times GMT).
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Nasdaq futures are lower this morning after the strong Friday rally and the pullback in the S&P500 futures on Oil prices collapse.
OIL spot, (May contracts), prices are down 22% and at record lows this morning as OIL facilities reach capacity and the demand collapse is still ongoing for most of the Western Europe and North America.
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