U.S. crude oil futures for May plummet to minus $37 — lowest price in history
U.S. crude oil prices dropped by almost 300 percent to turn negative for the first time as plunging demand pushed storage facilities to their limits.
May delivery for WTI sank to a new low of minus $37.63 a barrel by the close of the oil market Monday, a staggering level that essentially means producers would be paying buyers to take oil off their hands.
This also means that the barrel is worth more than the oil inside it.
Long oil and set stop loss at -$50 (lol)
U.S. crude oil prices dropped by almost 300 percent to turn negative for the first time as plunging demand pushed storage facilities to their limits.
May delivery for WTI sank to a new low of minus $37.63 a barrel by the close of the oil market Monday, a staggering level that essentially means producers would be paying buyers to take oil off their hands.
This also means that the barrel is worth more than the oil inside it.
Long oil and set stop loss at -$50 (lol)