Did they ever address that?
Oil prices were negative because the dock warehouses in Houston ran out of room and so did the boats. There was too much oil so the price tanked because no one wanted it, no one had room for it, and no one could sell it. The oil distributors had to pay the warehouses to take the barrels, which is a funny kind of historical repeat of back when oil was nuisance for water well drilling, you had to pay someone to take the oil off your land. For all of the liberal talk about supply and demand, the market sure seems to shit itself whenever it overproduces and prices tank. I wonder if someone ever wrote a book or two about that :curious-marx:
Weird how they were negative yet I was still spending $40 for a full tank
The crude oil price is specific to a certain stage of production, and mostly only refineries are in a position to do anything about it. Refineries, and anyone who has just a large amount of tank volume laying around.
