Today is a historic day - oil futures are MINUS $10!!!
True, the delivery is conditional today. ClosingThe May contract in the futures market created a completely absurd situation.
Holders of May futures fell into a trap. - https://inssip.ru/blog/
Oil storage facilities are full. And if you suddenly had the imprudence to go for a delivery, then you will have to buy it and... and there is nowhere to store it. And you can’t pour it out - ecology, fines and all that.
Tomorrow we will hear about many bankruptcies.
This is our world today.
2020 continues…