The soon-to-expire May contract for the U.S. oil benchmark was on track Monday to finish in single digits for the lowest close and biggest one-day plunge on record for a front-month contract, U.S. oil’s May contract plunged more than 150% on Monday, meaning that you have to pay to get someone to take barrels of oil off your hands. West Texas Intermediate oil trading on the New York Mercantile Exchange plunged 154% to trade at negative $10 a barrel. The May contract expires CL.1, -159.98% CLK20, -159.98% Tuesday. That one-day drop would mark the first time the contract has traded negative in history and would be the largest on record going back to 1983, while a finish near its current level would be far below the previous all-time low for a front-month contract at $10.42 a barrel set on March 31, 1986, according to Dow Jones Market Data. The June contract CLM20, -15.98%, which is the most actively traded, was down $4, or $15.34, at $21.14 a barrel.
Sursa: MarketWatch
