Brent crude will not follow US crude

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      U.S. crude oil futures fell to a negative region on Monday for the first time, hitting a low of $40.32 a barrel before closing at $37.63.
The lack of storage space for the surplus crude oil ignited this crazy sell-off, which means that dealers are willing to pay buyers to sell off their oil.
Many blockades to curb the new crown have led to oversupply, which has wiped out nearly a third of the world's daily oil demand.
For Brent crude oil futures, a global indicator, this impact may not be significant because of the different settlement methods of contracts.
Although US crude oil fell to a negative value, Brent crude oil futures in Europe remained at around $25 a barrel. Brent crude fell to about $20 a barrel on Tuesday.
**What is contract expiration? * *
An oil futures contract expires every month. Market participants will either close their positions and make money depending on the timing of their purchases or extend their contracts until next month.


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