Miscellaneous
We explain how oil prices went negative. Along the way, we explain what a commodity is, how futures work, and why Russia may have started a price war in order to bankrupt U.S. oil producers. The specifics of futures for light sweet crude oil led to the dramatic price collapse, as those holding the futures contract for delivery of crude oil in May became increasingly desperate to sell it. The post What’s up with oil? (e80) appeared first on HUMORLESS QUEERS.