Negative Oil. Unbelievable

Crude Oil Futures (May 2020)NYMEX

Description

⋅ Apr 20, 2020 6:36 PM

Just saving this chart for the historic value of this event. Unbelievable.

Comments

pedro07312

⋅ Apr 20, 2020 10:24 PM

If I own this thing @ expiration, does it settle in cash or do I gotta take delivery of 1000 barrels of oil? anyone know?

cheminacci

⋅ Apr 21, 2020 12:16 AM

@pedro07312, If you owned this you'd essentially get paid to take delivery of the oil. Theres no where to put the oil, so no one wants the contracts.

mrthomasebourassa

⋅ Apr 20, 2020 8:33 PM

Or is that the price of the option?

cheminacci

⋅ Apr 21, 2020 12:11 AM

@mrthomasebourassa, This was the price of the contracts

cheminacci

⋅ Apr 21, 2020 12:20 AM

The price of oil with the contracts*

mrthomasebourassa

⋅ Apr 20, 2020 8:33 PM

Is that like the spot price of oil? - ( negative) -$23.30

UnknownUnicorn2205027

⋅ Apr 20, 2020 8:28 PM

Crazy.