Impact of Covid-19 on crude oil futures market in India.

The derivatives markets for crude oil, corn, soybeans, and other global economic mainstays are well developed, with active trading in financial contracts that derive their value from the asset. Notably, while the value of a derivative is based on a resource, possession of a derivative does not necessitate ownership of the asset. Derivatives are widely used by producers of commodities to lock in the prices of the goods they will sell or acquire at some point in the future. rude-oil futures are the top commodity contract traded on the commodity exchange MCXNSE-0.14%, allowing a wide range of investors to hedge their positions or merely to speculate on the volatility of crude oil. The contract gets its price cues from the New York Mercantile Exchange's futures contracts for West Texas Intermediate crude oil (NYMEX). The study concluded that there was high volatility in the crude oil futures market before and during COVID – 19. The macro factors throughout the world have contributed to the volatility. In this paper, the data which is taken from a secondary source i.e. from MCX (Multi commodity Exchange) website, India, related to crude oil future market Total Averages Daily Turn Overvalues in Lakhs during the period September 2019 to May 2020 attempted to present the crude-oil data graphically and to study the characteristics of volatility, descriptive statistics have been defined and also made the comparison of the data sample means using Z-statistic. [ABSTRACT FROM AUTHOR]