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On a special, remotely recorded edition of Market Week in Review, Senior Investment Strategist Paul Eitelman and Research Analyst Brian Yadao discussed the recent historic moves in oil markets, newly released macroeconomic data points and the outlook for first-quarter earnings season.
What drove U.S. oil’s plunge into negative territory?
On April 20, the price for May delivery of a barrel of U.S. West Texas Intermediate crude oil settled at negative $37—the first time in history that an oil futures contract went negative. However, Eitelman noted that very few contracts for May actually traded at negative