The Great Lockdown continues to turn markets on their head. Last week, we dug into the unprecedented number of initial jobless claims coming out of the United States, which topped 22 million in a period of four weeks.
It’s just days later, and we already have our next market abnormality: this time, traders were baffled by West Texas Intermediate (WTI) crude — the U.S. benchmark oil price — which somehow flipped negative for the first time in history.
How is that possible? And how does it tie into the COVID-19 oil price crash in general?
Infographic by: www.visualcapitalist.com
It’s just days later, and we already have our next market abnormality: this time, traders were baffled by West Texas Intermediate (WTI) crude — the U.S. benchmark oil price — which somehow flipped negative for the first time in history.
Infographic by: www.visualcapitalist.com
