US, NEW YORK (ORDO NEWS) — The cost of futures for WTI crude oil for delivery in May 2020 collapsed by almost 100% – to $ 0.01 per barrel, according to ICE London data at 19:56 GMT.
For the first time in history, WTI has reached zero.
As of 20:10 GMT, May WTI oil futures were already trading at minus $ 1.43 per barrel. In turn, the price of WTI varieties for June delivery fell by 14.1% to $ 21.5 per barrel.
The deadline for the May Futures is April 21.
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