April 30, 2020Filed under: Weekly Market Commentary

WHAT HAPPENED TO OIL?

Ryan Detrick, CMT, Senior Market Strategist, LPL Financial Scott Brown, CMT, Analyst, LPL Financial

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Boone Wealth Advisors

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Negative oil prices have dominated headlines recently. A combination of oversupply, lack of demand, and a lack of storage capacity resulted in temporarily negative oil prices, where holders of a futures contract were paying others to take delivery of oil for them. We explore what happened, what it means for the world market, and where oil prices could ultimately be headed...

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