{"id":351884,"date":"2020-05-18T12:00:39","date_gmt":"2020-05-18T06:30:39","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=351884"},"modified":"2020-05-18T12:23:02","modified_gmt":"2020-05-18T06:53:02","slug":"covid-19-us-crude-oil-contract-to-expire-soon-due-to-negative-pricing","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/covid-19-us-crude-oil-contract-to-expire-soon-due-to-negative-pricing\/","title":{"rendered":"Covid-19: US crude oil contract to expire soon due to negative pricing"},"content":{"rendered":"<p>A month after sellers had to pay nearly $40 a barrel to get rid of US oil futures, the next watershed moment looms with the expiry of the June contract on Tuesday &#8211; and so far there is little sign of a repeat of the historic plunge.<\/p>\n<p>The extent of the damage that the coronavirus pandemic had inflicted on the oil industry came into focus on April 20, when the US benchmark WTI contract plunged to minus $38 a barrel.<\/p>\n<p>The virus destroyed so much fuel demand as billions of people stopped travelling that there was almost nowhere left to store the oil. So on the day before the May contract expired, investors stuck with barrels had to pay buyers to take it away.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A month after sellers had to pay nearly $40 a barrel to get rid of US oil futures, the next watershed moment looms with the expiry of the June contract on Tuesday &#8211; and so far there is little sign of a repeat of the historic plunge. The extent of the damage that the coronavirus pandemic had inflicted on the oil industry came into focus on April 20, when the US benchmark WTI contract plunged to minus $38 a barrel. The virus destroyed so much fuel demand as billions of people stopped travelling that there was almost nowhere left to [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,183],"tags":[],"class_list":["post-351884","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=351884"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/351884\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=351884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=351884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=351884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}