Update: Futures Traders Are Looking For Spare Oil Tankers

Oil isn’t even worthless

Initial Prediction: WTI crude oil will end May trading above $20.

WTI Crude is currently trading at -$37.63 a barrel, making today the first time oil futures have ever crossed into the negative.

To put this in perspective, it means that traders are paying the folks who underwrote these contracts a mint just so they don’t have to schlep on…

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Steve Spalding

Steve Spalding

821 Followers

Writer, builder of internet things, prone to wanderlust and pontificating. Collects interesting people. Enjoys: science, fiction, finance, culture, ze future.