WTI Crude trades below 0 $ (Down more than 100%)

263°
Deal Cadet
Professor1

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

https://www.bloomberg.com/news/articles/2020-04...

https://oilprice.com/Energy/Crude-Oil/Flood-Of-...

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Deal Cadet Deal Cadet
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you are to late now $1

Deal Cadet Deal Cadet
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it is trading at 0 cents per barrel

now trading in negative

Deal Cadet Deal Cadet
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now trade aT negitive -0.05 $

Deal Cadet Deal Cadet
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I am watching CNBC (US) to understand how can a stock trade in negative (WTI Crude trading at -7.19$). they are saying that they have run out of storage and producers need to pay 7.19$ to store a barrel for them. Nver happened before

Deal Cadet Deal Cadet
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loot deal?

Deal Lieutenant Deal Lieutenant
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Exactly. Loot deal. Post in Freebies section. wink

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Deal Cadet Deal Cadet
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now Trade At -$6.75 Per Barrel For The First Time In History

Deal Cadet Deal Cadet
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settled at -37.63$

Blogger Blogger
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can i buy now from 5paisa

is it possible ?

Deal Lieutenant Deal Lieutenant
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…I guess mcx trades brent crude…which is around 1700 rs a lot….

…0$ is crude oil….

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Deal Lieutenant Deal Lieutenant
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…I think with this scenario in mind….I doubt aramco will invest in reliance now….

…I am expecting 700-800 rs price for reliance in second wave of selling in nifty due soon….

Deal Lieutenant Deal Lieutenant
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…You know what there is similarity between ciggi and options….

…according to that mythical friend….both are too easy..just try it once…and you are doomed…

Deal Cadet Deal Cadet
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BIGGEST HISTORY IN THE WORLD
Finally it’s officially 0$
Middle east is Doomed !!!!!!! confused

Deal Subedar Deal Subedar
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WTI May does not have much relevance and shouldn’t be looked at as an accurate economic indicator, because tonight the May contract will expire and in Crude if you keep positions on expiry day then you need to take physical delivery – which nobody wants to take (that’s why people are unwinding positions aggressively today).

That’s the reason for the huge difference between the current and the next month contracts.

WTI June is at $22 (which is just down 12%) is probably the relevant price to look at…

Deal Cadet Deal Cadet
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on 20 may 2020
you may again give this reason that WTI is trading at 10$ for june 2020 delivery
this will goes on till that 2020 goes into dead and worst memories of human

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Benevolent Benevolent
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I was wondering wheres this thread

Deal Cadet Deal Cadet
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Now at 1300 in mcx

Deal Newbie Deal Newbie
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How many of you think that crude will have a further crash?

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