Oil market continues to experience significant distress. One day after the front-month contract plunged over 300%, the active June contract is cratering more than 20%. OIL.WTI dropped to a low of $15.50, after nose diving 9% in less than 5 minutes. Equities are following lower with DAX trading almost 2% lower.
OIL.WTI craters after the market realizes there is no available storage left. Source: xStation5
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