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On April 20, 2020 the WTI crude oil future price turned negative for the first time in history (see the graph below). Explain the reasons

On April 20, 2020 the WTI crude oil future price turned negative for the first time in history (see the graph below).

Explain the reasons of the negative price.
Propose your trading strategies that could avoid negative oil future prices.

image text in transcribed

U.S. crude oil's historic crash below zero Free USD 10 -5 0 -110 -15 - 20 --25 30 -15 02:1 CM 12:01 14:11 Apa 2020

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