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So bad..look we will pay you to take oil.. Historic day for oil markets as WTI crude crashes below zero for first time

 
Goneviral

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04/20/2020 02:25 PM

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So bad..look we will pay you to take oil.. Historic day for oil markets as WTI crude crashes below zero for first time
Historic day for oil markets as WTI crude crashes below zero for first time

Oil futures collapsed to below zero for the first time ever as the deepening economic turmoil caused by the coronavirus crisis left traders desperate to avoid taking delivery of physical crude.

In an unprecedented day of trading, the price for the May contracts wiped out all value, breaking every low for oil prices since 1946. The exchange where WTI futures trade said the contract would be allowed to price below zero. The extreme move showed just how oversupplied the U.S. oil market has become with industrial and economic activity grinding to a halt as governments around the globe extend shutdowns due to the swift spread of the coronavirus. An unprecedented output deal by OPEC and allied members a week ago to curb supply is proving too little too late in the face a one-third collapse in global demand.
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Acts 2:37-38 King James Version (KJV)
37 Now when they heard this, they were pricked in their heart, and said unto Peter and to the rest of the apostles, Men and brethren, what shall we do?

38 Then Peter said unto them, Repent, and be baptized every one of you in the name of Jesus Christ for the remission of sins, and ye shall receive the gift of the Holy Ghost.





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