The price of oil futures went negative. The spot price of oil has never and will never hit zero or negative. You can't use your regular intuition about commodi

The price of oil futures went negative. The spot price of oil has never and will never hit zero or negative. You can't use your regular intuition about commodity prices when talking about futures contracts. The negative price was a one-day event, and all it really represents is a higher-than-normal premium on the calendar spread.