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Energy
Oil Prices Crash – Oil Cheaper Than When Oil Was Discovered
Oil Prices Crash – Oil Cheaper Than When Oil Was Discovered
written by Net Advisor™
MANHATTAN, New York. Oil Prices Crashed! A highly unusual sell-off of the May 2020 (NYMEX) Futures Contract, sent oil prices plunging to the lowest level in world history. In fact, oil prices were cheaper on April 20, 2020, than they were when oil was first discovered.
Prices stayed below zero and continued to plunge in the negative 305% range for an extended time. This was plenty of time to make the most thought-provoking trading decisions.
With oil at -$37.63 (for example); this means for every oil contract purchased; one would receive a 1,000 barrels of oil for FREE – plus they would pay you USD $37.63 cash per contract. I believe this works out to be…READ MORE…