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0.000611060189428537 -0.00274977085242907 -0.00611060189428667 -0.00916590284143001 0.00733272227314375 0.00855484265200126 0.0207760464405744 0.0296364191872899
Stock impact report

Beyond the Negative Headlines: Oil Prices Aren't What They Seem [The Motley Fool]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
Company Research Source: The Motley Fool
Oil prices grabbed headlines this week as front-monthoil futures contracts(i.e., those expiring next) for two key pricing benchmarks crashed and burned on Monday. The May futures contract for West Texas Intermediate (WTI), which is the main U.S. oil price benchmark, cratered to a jaw-droppingnegative$8. a barrel. Canada's main oil benchmark, Western Canadian Select (WCS), also went negative.However, beyond those headlines, the oil market told a different story. Here's a look at why those contracts gushed red while others held up relatively well.Image source: Getty Images.Paying people to take delivery of crude oilOil futures contracts require that the holder take physical delivery of the oil upon expiration. That's usually not a problem because a trader can flip the commitment to a buyer that has access to storage and roll the proceeds into a new contract with an expiration farther into the future.However, because of the COVID-9 outbreak, global oil demand has cratered, and crude ispi Show less Read more
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