The May futures contract for U.S. crude oil extended losses Sunday evening in electronic trade, touching the lowest level since 2001, as fears about a shock to demand due to the coronavirus pandemic and worries about a lack of storage looked set to hammer the commodity to start the week.
Meanwhile, the most-active June contract for WTI CLM20, -5.47% was down $1.18, or 4.6%, at $23.85 a barrel. “Price discovery is complicated, more so than usual, by the soon-to-expire WTI NYMEX front-month contract for May 2020,” wrote Stephen Innes, global chief market strategist at AxiCorp, in a Sunday research note.
Trying to think about what's lower on my list of worries than the price of oil. Or even gasoline.
Well damn
What exactly is the bull case for the stock markets? The federal government is propping it up?
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