The front month contract - which expires today - is back in negative territory
It was a watershed moment in the market yesterday as we saw the drop in the front month contract go from $0 to -$40 in no time, but it is time to keep the focus ahead.
The $20 level and the lows yesterday around $20.20-30 will be a key spot to watch in the June contract. It's going to be tricky ahead of the rollover so let's see.
At the same time, Brent oil is also trading weaker, down by over 6% to just under $24.
Update: The May contract for WTI is now -$4.40.
