First time in history: oil price went negative

CRUIDE OIL FUTURES below zero

Analysis, fundamental preconditions, possible scenario

We witnessed a historic event yesterday no one could imagine – the WTI oil price dropped below zero. It means producers paid buyers to take oil off their hands. Just imagine: you go shopping, you take your goods and the seller pays you for that!

This situation seems unnatural in market economy conditions, doesn’t it?

However, the chart above proves that this situation is real. We see that the May WTI oil futures price reached a record low of negative 49.32 USD at New York Mercantile Exchange (NYMEX). The May…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>