WTI forward price for May 2020 expired yesterday April 21 and it tumbled well below $0 per barrel to close the day (April 20) at -$37 per barrel which means you get paid $37 for every barrel of WTI crude oil you buy.

The article in my signature therefore explains why you shouldn't think there is only one variant of crude oil as different countries have different variants.

It also explains how a forward market works (particularly in the oil industry) and why suppliers are willing to pay buyers to buy their oil. Lastly, it briefly gave an insight of how Nigeria is affected and if the current situation will persist.


Click on my Signature to read about it and also ask questions that bother you about it.