May Crude Selling for $1.xx??? Holy cow

what service was that on? IB have 0.0 with the bar closing there. Then the close jumps to $18.

 

June contract volume eclipsed May contract volume sometime last week. I think it was Wednesday.

 

IB have stopped trading one day before the underlying market as you cannot take delivery at IB.

 

So what happens tomorrow with oil? Is gas literally a buck a barrel? That means gas prices would be about 30 cents a gallon.

 

-6.50 a barrel

 

So.... seller has to pay buyer $650/bbl to take the stuff off his hands?

Now THERE'S an investment!


(Guess it works only if you got a place to store it.)

 

Its now-35

Negative

 

Price 10 mins ago... $-39.14/bbl.

Explanation for this will be an interesting read...

 

Don't touch it don't touch it DON'T TOUCH IT!!!

It's a smoking gun... outside of a few essential supply chains, NOTHING moves until 2021.

 

"My understanding is that, since May contracts expire tomorrow, you have to get physical oil delivered. However, due to all storage are at their full capacity, there is no place for you to store oil/The cost to store oil is too high, so people are paying others to take oil from them"