Oil spikes 9% as market rebound puts negative prices in rear view | Markets Insider

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Oil spikes 9% as market rebound puts negative prices in rear view

surged as much as 9% on Friday as investors turned back to the thrashed commodity market.

Contracts for June delivery traded as high as $17.95 per barrel before paring some gains later in the day. The jump follows a similar move on Thursday, marking a brief rally to close a volatile week.The world's most-traded commodity is hot off historic negative prices posted at the start of the week. May contractson Monday before expiring the following day, a first for oil as the coronavirus pandemic pushes demand to the floor.

 

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It will still drop down

LwaziTBE

Look at the temperatures, global warming still happening even though skies are clearer. Ozone damage isn’t correlated to clearer skies... if anything it makes the heat worse :) f you oil companies (besides Sinopec, you were partially responsible for Petroyuan lol).

matt_moore03 💰

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