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Men's Weekly

What just happened to the price of oil?

  • Written by Christina Nikitopoulos, Senior Lecturer, Finance Discipline Group, University of Technology Sydney
What just happened to the price of oil?Shutterstock

We have just witnessed an oil price crash like never before taking prices of West Texas Intermediate into deeply negative territory.

The spot price of West Texas, the US benchmark, reached minus US$40.32 a barrel and the May futures price (which is deliverable in a physical form) went to minus US$37.63 a barrel, the lowest price in...

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