West Texas Intermediate futures continued to slide on Monday, falling over 25% as fears of a supply glut took hold of investors. The global coronavirus pandemic devastated demand, while prices suffered additional losses amid the Saudi-Russia month-long price war. The OPEC+ agreement to cut production by a record 10 million barrels per day, equivalent to about 10% of global supply, failed to calm markets. WTI for May settlement crashed 26.11% to $13.50 per barrel at 6:15 am ET. Nick Note: This is a delivery squeeze. Terminals and storage tanks are full so their is nowhere to go with the oil for today’s delivery day. Oil for June is $10 a barrel higher. And oil For July Delivery is trading at $27.57 a full $15 a barrel higher. So this is simply a squeeze. Our analysis is as the captives are set free they will suck oil out of the economy along with their Corona Beer, eating out and a spending orgy the likes have been never sen before. Although the Spot May contract is trading at record lows. All the other contracts are not even at the April 1 lows.