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  • Kiplinger

    The Next Threat to Oil Prices: Russia?

    Aug 28, 2020 4 minutes

    This spring, commodity traders and investors in energy stocks around the world looked on with astonishment at oil prices.

    In April, West Texas Intermediate crude oil futures went negative for the first time in history, hitting -$37.63 on April 20, shocking global markets. One day trader ended up incurring a $9 million paper loss, as quote screens at brokerage firms like Interactive Brokers, were not programmed to go below $0. (IBKR's issues resulted in a $113 million loss for the firm, Interactive Brokers CEO Thomas Peterffy said.)

    However, , like the broader stock market, did not stay depressed long;

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