WTI - Investors should look beyond the headline but be aware of the bigger implications

On Monday, the May oil contract for West Texas Intermediate (WTI) oil turned negative for the first time ever. WTI futures, which expire on Tuesday, settled at $(37.63) on Monday before climbing back to positive on Tuesday. Negative prices reflect the fact that producers are willing to pay consumers for May delivery under fear that storage will run out by the end of May. WTI pricing is for delivery at Cushing, Oklahoma. Last week, the Energy Information Administration (EIA) reported that storage facilities at Cushing, Oklahoma were 72% full as of April 10. So, are negative oil prices a temporary fluke caused by unusual circumstances, or is it a harbinger of bigger problems to come?Read More >>