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A4ET8a8uTh0
on April 20, 2020
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I tried to buy an actual barrel of crude oil (2015...
Does it happen often that future contract falls into negative territory?
asib
on April 20, 2020
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No, this is the first time since oil futures began trading in 1983.
bhl
on April 20, 2020
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The technical term for this is contango [1]. Last time this happened to crude oil was after the GFC, as mentioned in the article.
[1]
https://en.wikipedia.org/wiki/Contango#Description
juped
on April 21, 2020
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Contango means that futures prices further out are higher than futures prices in the nearer term, and is normal for oil futures; what's notable is the extreme slope of the futures curve we're seeing.
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