Another retailer looking at bankruptcy it is tuesday, april 21. You are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening with el come from wherever in the world you may be watching. Im Brian Sullivan welcome. I hope you are having a great tuesday. The stock futures looking like it is continuing off yesterdays decline for the dow futures in the red right now indicated down about 200 points yesterday, a rough day all but two dow names were down. Each falling 6 in the red it has been the action in the Global Oil Market that has really captivated the worlds attention and the Historic Development around crude trading yesterday negative for the first time ever. Thats right the may contract which expires today. At one point, this is not a miss print, trading at negative 40 a barrel the lowest on record not only zero, it is below zero. A lot of you question why would oil or any commodity trade in the red and go inverted . That is relatively simple, when you o
Crudeng with oil, wti ps more than 100 to 1. 5 a barrel. Negative for the first time, june delivery contract, 21 a barrel. President trump says he will suspend immigration to the u. S. Over virus concerns as some states look to end the lockdown, plus u. S. Officials learned kim jongun was in Critical Condition following Cardiovascular Surgery last week. Washington is seeking clarity on the north Korean Leaders health. Just under an hour where from the start of cash equities trade. Lets look at futures after markets went negative with the plunging oil prices. You can see european futures now, down about 1. 5 to 2 . U. S. Futures, the cash trade close lower in new york yesterday so u. S. Futures are down a little less than european futures, but we are still seeing dow futures down two thirds of 1 . European equity markets on the oil price, some geopolitical news out of the korean peninsula, as well and perhaps a little focus on the data coming through. U. K. Data on joblessness coming th
Wish we were together again. So the word unprecedented is getting quite a workout over the past month or so. Jack, it certainly applies to what was happening in the Energy Market over the past week. Right at the start of the week the Energy Markets you know what . Lets get weird. I know you think youve seen weird, but how does 37 sound on a barrel of crude oil . Does that mean i can go to a gas station, theyll pea me to if fill up the car . Thats not what it means. In the futures market, each contract has to do with a specific type of Oil Delivered to a specific place at a specific time, and on april 20th when that may west texas intermediate contract came due, you better have had a pipeline and storage tank willing to accept your oil in oklahoma or you got closed with next to zero liquidity. Most people didnt have it, so so we had prices go sharply negative. Now jack if you have a boat that holds oil, thats a nice thing. Funny you mentioned that because on my street wise podcast for b
Wish we were together again. So the word unprecedented is getting quite a workout over the past month or so. Jack, it certainly applies to what was happening in the Energy Market over the past week. Right at the start of the week the Energy Markets you know what . Lets get weird. I know you think youve seen weird, but how does 37 sound on a barrel of crude oil . Does that mean i can go to a gas station, theyll pea me to if fill up the car . Thats not what it means. In the futures market, each contract has to do with a specific type of Oil Delivered to a specific place at a specific time, and on april 20th when that may west texas intermediate contract came due, you better have had a pipeline and storage tank willing to accept your oil in oklahoma or you got closed with next to zero liquidity. Most people didnt have it, so so we had prices go sharply negative. Now jack if you have a boat that holds oil, thats a nice thing. Funny you mentioned that because on my street wise podcast for b
Wish we were together again. So the word unprecedented is getting quite a workout over the past month or so. Jack, it certainly applies to what was happening in the Energy Market over the past week. Right at the start of the week the Energy Markets you know what . Lets get weird. I know you think youve seen weird, but how does 37 sound on a barrel of crude oil . Does that mean i can go to a gas station, theyll pea me to if fill up the car . Thats not what it means. In the futures market, each contract has to do with a specific type of Oil Delivered to a specific place at a specific time, and on april 20th when that may west texas intermediate contract came due, you better have had a pipeline and storage tank willing to accept your oil in oklahoma or you got closed with next to zero liquidity. Most people didnt have it, so so we had prices go sharply negative. Now jack if you have a boat that holds oil, thats a nice thing. Funny you mentioned that because on my street wise podcast for b