April 2020

Negative oil Prices

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Pages : 5

Executive Summary

  1. Oil prices turned negative for the first time in history on April 21, 2020
  2. The West Texas Intermediate (WTI) crude for May delivery fell more than 100% to end the day at negative $37.63/barrel, meaning producers would pay traders to take the oil off their hands.
  3. The drastic price plunge was due to a combination of plummeting demand, lack of storage capacity in the US and more importantly the nature of the oil futures markets

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Executive Summary

Table of Content

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FAQ

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