COVID Impact Journal

40 thoughts
last posted Aug. 26, 2020, 7:01 p.m.

20 earlier thoughts

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The big impact everyone is discussing today is that oil futures contracts for May 2020 (and only May) are below $1/barrel or even negative. This apparently has to do with today being some kind of due date; if you hold the contract beyond today you’ll be required to take physical delivery of the oil, and (for now) no one wants it.

However, this is not much of a felt impact for me and a lot of people, for the same reason that is causing the plummeting oil prices: we don’t drive much anymore. Also, neither I nor anyone I know works in the oil industry.

19 later thoughts