Oil Plunges Below Zero for First Time With May Contract Ending
Citiraj:
There are signs of weakness everywhere. Buyers in Texas are offering as little as $2 a barrel for some oil streams, raising the possibility that producers may soon have to pay to have crude taken off their hands.
In New York, West Texas Intermediate for May delivery dropped as low as -$1.98 a barrel. It’s the lowest in continuation monthly data charts since 1946, just after World War II
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Citiraj:
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BREAKING: WTI crude oil for May delivery fell more than 100% to settle at negative $37.63 per barrel https://trib.al/bpBEYms
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