This is for a discussion board so the answer doesn't need to be as lengthy, a paragraph is enough On April 20, 2020, the future price of crude oil (based on May 20, 2020 delivery) closed at -$13.10 on the New York Mercantile Exchange (NYMEX) after having dropped to -$40.00 during the trading day.

What is a negative price? Based on what we covered in week one of our class, why do you think companies continue to produce oil when the price is clearly below their shut down point? What does this example teach us in terms of understanding how large corporations make decisions when facing uncertainties?

At the time of creating this post in October 2021, the price of Crude oil for delivery in December 2021 had surpassed $82 per barrel. Based on your knowledge of the mechanics of supply and demand, why do you think the oil market (unlike most other markets) experiences vicissitudes of this magnitude?

841.16 23,826.78 8,616.42 1,213.91 Your 3.40 (-1.16%) -415.71 (-1.71%) -33.72 (-0.39%) -15.19 (-1.24%) D rude Oil May 20 (CL=F) Add to watchlist Y Mercantile - NY Mercantile Delayed Price. Currency in USD 35.2000 -53.4700 (-299.23%) of 2:31PM EDT. Market open. Summary Chart Historical Data Futures e. Settlement N/A Last Price 18.2700 10 5D 1M 6M YTD 1Y 5Y Max Full screen 26.00 ettlement Date 2020-04-21 Day's Range -40.3200 - 17.8500 18.27