# NYMEX June crude plunges below $12/b as storage fills | S&P Global

> NYMEX June crude fell 43% to settle at $11.57 per barrel after dipping to $6.50, as storage continued to fill amid weak demand from the coronavirus outbreak. ICE June Brent settled at $19.33, and the Texas Railroad Commission delayed its mandatory production cut decision until May 5.

- Date: 2020-04-21 · published 2020-04-21T12:00:00.000Z
- Category: market · region US · magnitude high
- Page: https://feedsoft.ai/events/5316-nymex-june-crude-plunges-below-12-b-as-storage-fills-s-and-p-global
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Demand collapse and delayed production cuts keep storage pressure building, signaling further bearish crude pricing. Lower energy prices reduce biofuel economics and feed-linked input costs.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-04-21 | 1 | -47.5% | -6.8 | On 2020-04-21 NYMEX June crude fell 43% as storage filled and ICE June Brent settled at $19.33, directly describing the day's collapse via a supply glut and weak demand. |
| BRENT | 2020-04-21 | 5 | -58.0% | -11.5 | On 21 April NYMEX June crude fell 43% and ICE June Brent settled at $19.33 as storage filled, directly driving the final leg of the Brent decline. |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/042120-oil-futures-historic-negative-pricing-fades-june-contract-falls

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.