I just looked up WTI. It says $20.40 ten minutes ago. I wonder when it hit $7. Did it bottom and then go up?
Wholesale Spot Petroleum Prices, 4/01/20 Close
spot bids Tuesday and Wednesday in So. TX @ $4.00 and Central OK @ $7.00 FOB at the wellhead/lease. Crude buyers are looking for whatever ways they can to reject barrels due to lack of market/storage options. IMO, some real negative price-gouging going on by those with storage options - tough situation especially for the smaller producer with limited market presence/stroke with crude buyers.