US Oil Trades as Low as Negative $40 a Barrel
- Apr 20, 2020 11:51 pm GMT
West Texas Intermediate, the US benchmark, traded as low as -$40.32 a barrel today. The main delivery point for US oil, Cushing, Oklahoma has full storage. Storage tanks at Cushing will be full in May. The crude oil tanks around Cushing have approximately 91 million barrels of storage capacity. Many North American regions have fallen into the low single digits as buyers are unable to take delivery. Marketwatch has a list of a few dozen US oil companies that are at risk of bankruptcy. SOURCES- Financial Times, Market Watch Written By Brian Wang, Nextbigfuture.com Brian Wang Brian Wang is a prolific
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