Apr
20

Plunging Petrol

Plunging Petrol In a move without precedent, the price of a barrel of West Texas Intermediate crude for May delivery closed at -$37.63; there is simply no place to put it. Producers are literally paying buyers to take the oil! June WTI is selling for $20.43/bbl and November for $31.66/bbl as traders expect demand to steadily rise as the economy improves and supply to shrink as wells are shut in. Mind boggling!   

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