Oil is currently $5/barrel if you look at May Futures. But the reality is, May futures expire tomorrow and nobody is buying them, so low liquidity lead to a crash. Oil is still priced at ~$22/barrel, it's just May contracts that are worthless.
Here's a more in-depth explanation of why oil futures ≠ reality https://twitter.com/gilbeaq/status/1252293724215762950
You can follow @MalwareTechBlog.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: