Historical collapse in futures prices for US oil


For the first time in history, the cost of WTI crude oil dropped almost to zero — about $ 0.01 per barrel. This is evidenced by the London ICE exchange.

The cost of futures for WTI crude oil for delivery in May 2020 collapsed by almost 100% – up to $ 0.01 per barrel.

As of 21:10, April 20, May WTI oil futures were already trading at minus $ 1.43 per barrel. In turn, the price of WTI varieties for June delivery fell by 14.1% to $ 21.5 per barrel.

And by 21:24 the price of energy supplies in May was at minus $ 13.98. The decrease is estimated at 176.52%.

The deadline for the May Futures is April 21.