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home / news releases / BDRY - Negative Oil Prices - Economic Implications


BDRY - Negative Oil Prices - Economic Implications

By Colin Lloyd

On Monday 20th April, West Texas Intermediate ((WTI)) Crude Oil futures for May delivery traded at $-40.32 per 42 gallon barrel (bbl), a decline of 260% in a single day. The impact was sufficient to drag the contract for June delivery down to $6.50/bbl. By the time the May contract expired at $10.01/bbl on Tuesday 21st April, financial, as well as commodity, markets were agog with a mixture of shock and awe. The previous largest single one day price move in WTI futures had been a fall of 35% back in 1991.

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Stock Information

Company Name: Breakwave Dry Bulk Shipping
Stock Symbol: BDRY
Market: NYSE

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