U.S.’s Oil-Crash Report Offers Few Answers for Wild Trading Day

A U.S. government analysis of April’s historic oil crash is likely to leave many market participants disappointed, as the report failed to identify a clear cause for crude’s unprecedented tumble to -$37 a barrel.

The Commodity Futures Trading Commission study did point to several factors that likely contributed to the harrowing plunge on April 20. They included an oil glut, a lack of demand due to the the coronavirus-fueled economic shutdown and concerns about a insufficient space to store crude. But those explanations have been cited for months, leaving businesses and traders still largely in the dark about what happened. ...