MEG unaffectedMEG won't be touched by this. No oil company would be selling their oil for the next month two weeks before that month starts. Our unhedged barrels would already have been locked in before today.
Once the May contracts expire tomorrow, WTI prices will jump to the June prices, which will also probably jump into the teens. But remember, as we speak more and more production is being shut in.
The only reason we dipped negative today is because Oil ETFs got burnt and people forgot that when you buy oil futures.. you're actually buying physical barriers and will need to pick that shite up. Good luck trying to find store 1000 barrels of oil in your 500 sq feet New York condo.