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Oil Bust: West Texas Crude Price Turns Negative For First Time Ever


the CME Group


Breitbart


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The New York Times
SOURCE: http://www.breitbart.com/economy/2020/04/20/oil-breaks-the-buck-and-quickly-plunges-to-1-cent/
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Summary

Last week, the CME Group confirmed the ability of its platform to register negative prices.The extreme low-level of prices for the May contract is rooted in concerns that facilities for storing oil are reaching maximum capacity.The most basic explanation for what is happening in the oil market is low demand for fuel.

As said here by John Carney