Tuesday, April 21, 2020

Oil Goes Negative

The glut of oil and the massively reduced demand for it has played havoc with the price of crude, to such an extent that the price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, fell as low as minus $37.63 a barrel yesterday.

You can't eat it and you can't drink it, so without a functioning global economy its value will continue to fall.

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