Old to new

Yesterday will go down in history.

The May crude oil contracts traded below 0$ and closed negative around -37$.

37, not 3.7.

This means if you want to get rid of your oil.


The oil owner.

Have to pay 37$.

Like the good old days when you used to collect the Corona or Marstons bottles and get 5p or 10p back for the empty bottle.

You might get a couple of bucks for the barrel your oils in, but no one wants the oil.

This chart by JC Parets shows old money flowing to new.

Crazy times in life.

Crazy times in the markets.


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