How Did Oil Prices Collapse Below Zero...Can You Make Money From It?

Oil Prices Collapse Below Zero...Can You Make Money From It?

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So the economy has come to a standstill and we are not using as much oil as we used to! with the demand for oil going down, the supply is not reducing at the same rate. This is what has caused the price of oil to trade at a negative price for the first time ever!

This negative value was based on the oil futures of West Texas Intermediate, the US benchmark. This has all come about because the oil is being extracted in west texas has become more than the amount available to be stored. Therefore traders are willing to pay people to take the oil off them!

What does this mean to the economy, basically we really don't know. This is all very new territories for the whole market. However, as a novice investor, I've decided to buy some shares in BP, as I feel as though it's a great deal right now while the share prices have also fallen.

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DISCLAIMER: Sai Ganesh, is not a financial/investment advisor, broker, or dealer. He is solely sharing his personal experience and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. Always remember there are financial risks associated with investing, and Sai Ganesh’s results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For investment advice please seek the counsel of a financial/investment advisor(s); and conduct your own due diligence.