Yes, technically there were futures contracts for West Texas Crude that traded below zero. They owner of the oil literally PAID someone to take the oil from them. There was a London based trading company that had storage space in Texas that had enough room to take the oil. No one else had available storage tank space to accept the oil. So, that company was paid to accept the oil shipments for that front month contract.
BEST TRADE EVER
Gas is more like 3.75 in Utah...will be broke by time I drive back to Florida..
Yup.
Worked for a short while with a guy that works in the industry and he told me that. Said that they cant simply shut down some pump jacks because a lot of wells are under pressure and if they shut them down they loose that well head pressure.