There's something you don't see every day...
Crude Oil has gone negative?
Well not really negative, but that is the headline floating around due to how it is priced used options contracts.
Check it out:
The benchmark index is changing the way its priced via oil contracts, moving from one month out to two months out, which is really making things look goofy.
None more goofy than this:
(Source: https://finance.yahoo.com/quote/%5EGSPC?p=^GSPC)
Since when can something lose more than 100% of its value?
Strange day out there...
Of course all this turmoil isn't being kind to bitcoin either.
Currently down about 5% from yesterday's highs...
Stay informed my friends.
-Doc
Because crude oil is valuable like gold and currencies can be tied to it, it is obvious why crude oil goes negative.