The Oil Price Crash Is Not Over – After WTI Went Negative, The International Brent Crude May Drop To $10 Per Barrel

The Oil Price Crash Is Not Over – After WTI Went Negative, The International Brent Crude May Drop To $10 Per Barrel - Hello loyal readers FeedGoogle, In the article you are reading this time with the title The Oil Price Crash Is Not Over – After WTI Went Negative, The International Brent Crude May Drop To $10 Per Barrel, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

On Monday, investors, analysts, economists and even ordinary people were flabbergasted when the WTI (West Texas Intermediate) crude dropped to not only below US$10 a barrel, but also below zero to the negativeterritory. It was so bad that at one point, the price hit “negative US$40.32”, before ending the trading day at “negative US$37.63” a barrel – losing a mind-boggling 305%.
The price of the U.S. oil plunged below zero – again – for a second day on Tuesday. The 2-day drops to the negative territory means instead of paying for the oil, the buyers were paid by the producers instead to cart away their oil. Imagine you walked into an Apple Store, only to be greeted with super friendly staffs who said they will pay you US$40 if you were kind enough to carry a free MacBook home.
Yes, that was roughly what happened on Monday and Tuesday. Such bizarre situation had never occurred in …