Yesterday the price of US crude oil went from $18,40 towards $0. It didn’t stop there though and it eventually closed at a price of -$38 for the WTI May contracts. This is unprecedented and never seen before in any asset that I’m aware of.
Today the price of WTI June started trading. At the moment of recording it was trading around $15.
Why is this? Is it a good time to buy oil futures right now?
This is not professional advice
#oil #cryptocurrencies #coronavirus
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