Nervousness back in oil market amid fears of negative prices

With extreme price swings in global oil markets and uncertainty over demand pickup lingering, experts warn that crude oil prices could slip into the negative territory again.The United States Oil Fund, a popular investment fund, said it would dump its June WTI contracts and reduce contracts for upcoming months. It will now buy into longer-term contracts.

Fearing a price rout, the S&P Dow Jones Indices, too, said all of its commodity indices will roll out of the June contract and into July. S&P Dow Jones Indices sees “the potential for the June 2020 WTI Crude Oil contract to price at or below zero.”