Effect of tsunami in Japan on mcx-ncdex commodity market
After the killer tsunami in Japan fall in crude oil prices has come. Naimacs at $ 100 a barrel crude oil has come down.
Because of the destruction in Japan to reduce crude oil demand is feared. Japan the world's third largest crude oil importer.
Also, from China to the trade deficit in crude oil is looking weak. Also central - and not deteriorating situation in eastern countries than expected crude oil slipped.
Political crisis in Libya and other Middle - Eastern countries the situation to deteriorate faster than crude oil remained constant.
The Japanese tsunami that hit the coastal areas causing severe devastation on Friday caused market crashes in commodities and stocks and there is panic everywhere. I was a bit skeptical in commenting about the impact of tsunami on commodities
A report in The Washington Post said that coal, natural gas prices may zoom as Japan shuts its nuclear reactors thereby forcing utilities there to use other fuel options to generate power while the closing down of refineries would mean import of fuel from nearby Asian refineries to make up for the deficit thereby giving support to an otherwise falling crude oil.
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