Jim Cramer on Understanding Oil: Use WTI Over Brent
Let's talk oil.
On Monday, oil prices plunged to below zero for the first time ever as storage tanks were nearly full amid a collapse in demand due to the coronavirus pandemic.
Oil contracts expiring Tuesday remained in negative territory while futures for the June contract were trading around $16 a barrel.
“We will never let the great U.S. Oil & Gas Industry down,” Trump said in a tweet on Tuesday. “I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!”
So, let's back up a second for the investors who don't specialize in commodities: What exactly is the difference between Brent and WTI?
Jim Cramer weighs in.
Watch the full video above for more.
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