May 2020 WTI crudes settlement date is 21st April 2020
Its a delivery base settlement
Bcos of over supply & lack of demand there is hardly any space to store crude
Hence no one ready to take delivery. Thats the reason only May future is crashing. So storing crude oil is becoming more difficult. Where are you going to keep it. Convenience yeiled Storage cost is huge.
There is negetive earning when your wastage are not biogradable
Logic is in your costing. You have learned about process costing
And you bear a dispose cost
mango 