dwiggains
444 posts
msg #151875
- Ignore dwiggains
modified |
4/20/2020 2:18:36 PM
The oil got down to 20 cents per barrel and now are back to 50 cents per barrel.
WTI crude
https://markets.businessinsider.com/commodities/oil-price?type=wti
https://oilprice.com/oil-price-charts
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snappyfrog
728 posts
msg #151876
- Ignore snappyfrog |
4/20/2020 10:09:01 PM
Actually, it was just the May future that expire tomorrow. It is the same as one buying a low volume stock and trying to sell when there aren't any buyers. You will drop the price as far as you have to in order to sell.
June futures were still at $21.15.
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karennma
8,057 posts
msg #151877
- Ignore karennma |
4/21/2020 9:51:26 AM
https://www.marketwatch.com/story/why-the-oil-market-just-crashed-below-0-a-barrel-4-things-investors-need-to-know-2020-04-20
"The opposite of a ‘short squeeze’
The May WTI crude contract CL.1, -104.04% CLK20, -104.04% closed Monday at -$37.63 a barrel, a one-day drop of $55.90, or 306%, according to Dow Jones Market Data. The May contract expires at Tuesday’s close. Any traders that are still long crude at that time must take physical delivery, while anyone short must make delivery. "
Heck! I should be paying 0.98 cents/gallon for gas!
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