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The price of oil fell to an unprecedented level during the Monday April 22nd 2020 trading session creating major disruption and fear among oil producers

The price of oil fell to an unprecedented level during the Monday April 22nd 2020 trading session creating major disruption and fear among oil producers and traders. Give extensive answers to:

1. What contributed to the collapse in the oil price?

2. How did the derivative market facilitate that process?

3. What advice would you provide to oil producers for the next contract expiration?

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