April 20, 2020, will live in infamy for oil traders. At the start of trading that day, West Texas Intermediate (WTI), one of the main global oil benchmarks, opened at $17.85/barrel, an exceptionally low price. Then the bottom fell out of the market. For the first time ever, the price of oil dropped into negative numbers and by the end of the day, WTI was a negative $37.63/barrel. This means sellers had to pay buyers a hefty fee to take their oil.