Good morning, everyone. Today is Tuesday, everyone must have witnessed the “history”, first follow the Tiger Sniff Morning Post to see what big news happened ~
US oil futures plunged 300%
@ 上海 金融 [US oil futures plunged 300% to close at -37 USD / barrel, the first time in history] At 2:30 EDT, WTI May crude oil futures settlement closed down 55.90 USD, a decrease of 305.97%, to -37.63 USD / barrel closed at a negative value for the first time in history. WTI June crude oil futures closed down $ 4.60, down 18.0%, refreshing the closing low to $ 20.43 / barrel.
CNBC commented that a negative oil price means that the cost of transporting oil to a refinery or storage has exceeded the value of the oil itself. WTI crude oil futures prices plummeted because traders were forced to close long positions to avoid buying physical crude without storage capacity.
Of course, in a dismal situation, the three major US stock indexes have no surprises, and they collectively dived.
US stock index collectively closed down