SUPER CONTANGO CATASTROPHE

Crude oil's historic run into negative pricing

My plan was to write about oil, so over the weekend I sketched out my post and figured I could polish it off during my lunch hour with some up-to-date charts.

Then it happened…

Shortly after 1pm, the May 2020 WTI crude oil futures contract went into an unprecedented free fall that took prices to the previously unheard price of negative $36! Yup. You r…