Oil Extends Advance as Trump Threatens Escalation to Iran War

West Texas Intermediate crude futures fell below $0 for the first time in history in April 2020, driven by a global oil glut. The unprecedented negative pricing signals acute storage and demand dislocations in the oil futures market and severe stress for producers, traders and commodity derivatives positions.

Analysis

West Texas Intermediate crude futures fell below $0 for the first time in history in April 2020, driven by a global oil glut. The unprecedented negative pricing signals acute storage and demand dislocations in the oil futures market and severe stress for producers, traders and commodity derivatives positions.