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Crude Oil Carnage as WTI Pushes to $0.01/barrel

crude oil carnage as wti pushes to 0 01 barrel v2

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It’s been a rough year so far for crude oil, even after coming into 2020 trade with a quick spike of strength on the back of increasing tensions between the US and Iran. After a quick flicker above the 65-handle, it’s pretty much been a one-way-show with prices continuing to sell-off for much of the time since. And today – a new low was set; as in a new multi-decade low as prices spilled down to $0.01/barrel.

wti 1 cent

Unprecedented

How low can you go? At $0.01 per barrel, US is in for a long ride. It is very likely that the price dipped to critical levels leading to mass margin calls and account stops.

Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude and Brent Crude patterns. Get information on key pivot points, support and resistance and crude oil news.

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