Wait.. What? How DOES Oil Drop Below ZERO Dollars A Barrel?

Crude oil for May delivery remained in negative territory on Tuesday, a day after hitting its lowest-ever level. The contract traded positive at one point before heading lower again.

West Texas Intermediate oil futures expiring in May traded as low as -$16.74 a barrel on Tuesday, up from Monday's close of -$37.63.

SuperCarEnthusiast - 4/21/2020 10:24:07 AM

+1 Boost

No industry around the world!

MDarringer - 4/21/2020 11:15:57 AM

0 Boost

There's this thing called zero and if you go below it, you're below zero.

jeffgall - 4/21/2020 2:51:11 PM

+1 Boost

It’s more expensive to turn wells off, so companies rather sell the surplus at a cost. Problem is, there are fewer and fewer places to store it, and no-one is using oil right now.

carloslassiter - 4/21/2020 4:07:21 PM

+4 Boost

So far 2020 has sucked.

CANADIANCOMMENTS - 4/21/2020 4:50:13 PM

+2 Boost

We are hoping for 200-300% growth at our company in 2020. But overall it won't be the favourite year of many....

ricks0me - 4/21/2020 6:42:35 PM

0 Boost

CC said: We are hoping for 200-300% growth at our company in 2020.

Obviously, you don't sell cars...LOL

MDarringer - 4/21/2020 7:47:38 PM

0 Boost

The problem with 2-300% growth is that what grows that fast can collapse that fast.

CANADIANCOMMENTS - 4/21/2020 10:10:58 PM

+2 Boost

@MD- Not really how software works. The dull boring back office tools stay in place for 10-20 years once you win a contract. They don't get flipped. People hate change in enterprise accounts. We have a winning solution that serves the widest part of the market. Not basic. Not for experts. We will do just fine.