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home / news releases / BNO - May WTI Contracts Settle In The Negative And What It Means For Oil Prices Going Forward


BNO - May WTI Contracts Settle In The Negative And What It Means For Oil Prices Going Forward

Welcome to the negative edition of Oil Markets Daily!

For those of you that don't want to read this article, the punchline is this:

  1. May WTI settling in the negative means nothing to the rest of the oil market. This is related to contract expiration and the lack of available storage for delivery.
  2. What this does imply though is that June contracts will also be weak, which is what USO is long 80% in.
  3. And the incoming US oil production shut-ins will be close to 4-5 million b/d.

June contracts are trading down ~15% today

Read more ...

Stock Information

Company Name: United States Brent Oil Fund LP ETV
Stock Symbol: BNO
Market: NYSE

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