Futures, Oil Plunge As Crude Contagion Spreads To All
Markets
by Tyler Durden
Tue, 04/21/2020 - 08:24
"The experts said ignore the May WTI meltdown - it is irrelevant and is only confined to the deliverable contract. The experts were wrong.
Not only was the Monday May WTI meltdown not contained, with the contract still trading negative after closing down nearly $40 on Monday in their first ever sub-zero dive as traders realized Cushing was on the out of storage space, but overnight it spread to the more-active June contract which crashed almost 50% plunging to the low teens, before stabilizing down 23.5%, to $15.64 a barrel. June trading volumes were roughly 80 times those of the expiring May contract."
moar:
https://www.zerohedge.com/markets/futures-tumbles-crude-contagion-spreads-all-markets