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Breaking - U.S. Crude for May Plunges Below $2 Per Barrel

Published 04/20/2020, 01:59 PM
Updated 04/20/2020, 02:01 PM
© Reuters.

By Barani Krishan 

Investing.com - The soon-to-expire front-month contract in U.S. crude for May plunged to record lows beneath $2 per barrel on Monday as almost no one was willing to take prompted delivery of oil in a woefully glutted market, traders said.

May WTI hit a low of $1.12 by 1:55 PM ET (18:55 GMT). That was 90% below its $18.27 settlement on Friday. It was also the lowest for a spot contract on the New York Mercantile Exchange, or as far as back NYMEX records go to April 1983.

June, which Investing.com is already quoting as reference for WTI due to its outsize volume to May, was at $22.12 per barrel.

 

Latest comments

US doesn't have own Drum? why should use Pertamina Drum? hahahahahaha
you guys not able to buy
Seems the stockmarket is overbought when compared to oil's trend
It was a trick.
Old news
You need to pay me $20 a barrel if you expect me to buy!
all excesses are bad you can't drill and drill endless .
How much us gov is willing to pay so I'd buy some barrels
Fed printed money.
according to new it drop below -40 per barrel
I can't see that on the charts tho?
$2 per barrel, now is the time to buy a V6, 8,10. Lol
oil 2dollar?!!!!!!!!!!really?
yes2usd
Free OIL for all....just don't forget to get you home utensils to store it.
this is may future contract price. not the physical oil prices
what to write.....world is sinking at all
so a gallon of gas is gonna be at $0.05 cents soon?
will it actually recover I haven't seen prices this low ever
in about a year but by that time shale oil will not be worth the investment.
plz guide may crude buying position or selling position
Its just the may contract, to be exact u look at june contract by now for refference and it around 20usd
Wow now mineral water is more expensive.. Lol..
thats why i invest i water
what happens for who bought at 0.05$?
where will you store it???
-40 bucks???
Oil tanked.
Wow . I have never seen oil in negative territory in my life.
WTI -100$ Today?
how to buy / trade crude oil?
I would buy and take deliver immediately and sell the June contract at 20 and deliver. All I need is a VLCC. What is the cost these days of a vlcc for 30 days maybe 3 million? So if I could buy the spot for 2 I could make 30 million.get me ten vlcc’s
i am with you
can you explain fhis Vlcc move?
where I live, water is more expensive than this
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