If you read me lately you can see i have been trading stocks and commodities. Spot to do that anonymously is of course SimpleFx but you can use any other platform or form that you like.
WTI Crude Oil was doing crazy things since some time but today may contracts went into negative.
For the WTI Oil brand before 21:00 investors were ready to pay -37 dollars! Which means that someone who sold the item had to pay extra! A large group of investors expected a weak session, but certainly, the scale of declines exceeded all expectations. On some platforms, the decline is not observable, because some brokers have already switched to June contracts over the weekend.
If this keeps going on contract expires tomorrow it means sellers will pay you to get the OIL barrels. Catch is - 1 contract is 1000 barrels. So if for example 35USD was on minus you would get 35 000 USD + free barrels. Sadly not many people can hold those barrels - and companies are also fully stocked - hence the price.
Hell i haven't tank car since over 7 weeks and normally i have to do i max 1,5 week.
Right now a barrel costs over 1 USD.
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