The last trade I just saw for the May 2020 NYMEX WTI crude oil contract priced at NEGATIVE $35.11per Bbl. Just to let you know, the futures contract is for 1,000 Bbls. That means that you arre paying $35,110 per contract to SELL the contract even if you bought it at a value of $0.00.
There will be a lot of broken firms on the street tomorrow — most in the hedge fund or energy company area. They will all be blaming COVID 19 and asking for money.
Tell the Democractic Congress there should be NO MONEY to cover trading losses — not one penny. Because they will be crying about the need to preserve jobs.
Just to let you know — I had to revise from -26/Bbl to -30/Bbl to -35/Bbl in the time it took to write this