Thursday, April 23, 2020

Analyst Who First Predicted Negative Oil Prices Sees Oil Hitting Minus $100

...Confirming the deliverable insanity, Bloomberg points out that in the physical oil market, traders bid barrels at even larger negative prices with Plains All American Pipelines - one of the main US oil shippers - asking producers of a crude stream called Eastern Kansas Common to pay it $55.05 a barrel if they wanted to sell.