Has anyone seen oil perform like this…..ever???
This is one of the most bizarre things I have ever seen. The price of crude #oil according to the expiring May future contract is USD -40. pic.twitter.com/7g0PtmZqAw
— jeroen blokland (@jsblokland) April 20, 2020
For the first time in history, crude oil went negative – and not only negative but really negative. This price drop has left seasoned, new, and non-futures traders scrambling to figure out and explain how crude could even go oil, and what’s next. We tapped into some of our expert energy guys to get some expert opinions on how and why something like this has happened, and what the future looks like after this.
In today’s episode we’re covering oil storage, whether anyone’s actually out there getting paid to own oil, very large tankers, whether brokers can even process negative prices, Russia vs Saudi Arabia vs US Shale, demand for oil, and will we ever get back to $100/barrel?
Find the full episode links of The Derivative below:
- Apple Podcasts
- Spotify
- Stitcher
- Anchor
- Or, watch on Youtube
And follow along with the episode guests: