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Negative Oil Prices Explained. How Oil Futures Contracts work?

On April 20, 2020, the future contracts for May delivery of WTI Oil tumbled to minus $37.63 a barrel. Traders were paying money to investor for buying May oil delivery. These traders got caught by sharp price drops and were forced to sell contracts at a loss. For them, selling at a negative price was better than taking delivery of actual oil because nobody needs it given lack of demand and no places left to store oil. With global economies in shutdown mode, increased oil production and scarcity of storage space, demand for oil has plummeted resulting in dramatic dip in oil prices. Does that mean we should experience a similar drop in WTI June futures contracts? NEXT TO WATCH - Oil Crisis:    • Global Oil Crisis? Buy Oil Stocks?   SUBSCRIBE -    / @thinkfinance   INVESTMENTS Open new M1Finance account (get cash): https://m1.finance/0ulBJlVUTwr9 Open new Robinhood account (get sticks): https://join.robinhood.com/rajivm23 View my Portfolio: https://drive.google.com/file/d/1_QMH... CRYPTO Buy Crypto Commission Free at Voyager (get bitcoin $25): https://voyager.onelink.me/WNly/refer... Earn Interest on Celsius (get bitcoin $40): https://celsiusnetwork.app.link/18851... Open Coinbase account (get $10): https://www.coinbase.com/join/mehta_udd Open BlockFi account (get bitcoin $10): https://blockfi.com/?ref=47c42a8e CHANNEL DESCRIPTION - On Think Finance, you will find investment ideas, money management tips, real estate strategies, retirement tips, and ways to generate passive incomes and wealth. Hi everyone, my name is Raj and my goal is to share ideas, learn from others and in the process help each other. If stocks, retirement, real estate, money, and personal finance are areas that interest you, do consider subscribing. DISCLAIMER - I am not a Financial Adviser or Tax Professional, the information provided is my personal opinion and should not be considered professional advice. Ideas discussed on the channel are actions I am personally taking to hit my financial aspirations and not professional advice. I'm not responsible for any monetary gain or loss that may occur following information on the channel.