‘Scary,’ ‘visceral,’ ‘unprecedented’: Traders describe oil’s wild week and fall to negative prices

‘Scary,’ ‘visceral,’ ‘unprecedented’: Traders describe oil’s wild week and fall to negative prices

Comstock | Stockbyte | Getty Images

“Scary,” “unbelievable,” “so dramatic,” “unprecedented,” “very visceral”: These are among the choice words Wall Street veterans used to describe what was, for the oil market, a week for the history books.

On Monday, for the first time on record, West Texas Intermediate (WTI), the U.S. oil benchmark, plunged below zero and into negative territory.…

View On WordPress