Crude Price Falls to – $40: Yes, Negative

by Mike ‘Mish’ Shedlock
Mish Talk

There is nowhere to store the oil, but someone is obliged to take delivery.

This is what happens when someone has to take delivery and no one wants to because there is nowhere to store the oil.

Those who thought $1 was cheap, thought wrong.

You now get paid as much as $40 to take delivery of oil because no one wants May delivery.

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