According to detailed report on 5Live's Wake Up To Money this morning the minus price is an American thing with a particular type of Texas crude. Becuse of geography/history it is not connected to the worldwide distribution system. The negative price relates to contracts for imminent delivery.
Brent crude, the benchmark for the world market, is still positive albeit at a massive discount to where it was pre CV19.
Last edited by: Bromptonaut on Tue 21 Apr 20 at 08:19
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