(WCS) Western Canadian Select (Oil) was minus $34/per barrel last year. What else can go negative?

You’re incorrect. It’s not negative. That would not make any sense.

https://oilprice.com/oil-price-charts/257

@Zak. On Global news Edmonton, Markets and More, they made the claim that Oil was negative $34 for a week last year.

Thanks.
I found a link I will show Fluther

Click on Year stats.

The week of April 20. 2020. Western Canadian Select, went into negative for Oil.

Too late now.
Looks like your Premier is upset with Biden over the pipeline, too. Yikes.
https://www.dailywire.com/news/canadian-lawmakers-react-to-biden-killing-keystone-xl-pipeline?utm_source=facebook&utm_medium=social&utm_campaign=benshapiro

Interest rates on your bank account balance.

There is a reason oil went negative- too much was produced and nowhere to store it.

So yes, you could have bought 100,000 barrels, earned $3.4 million, and sold it for a $30 a barrel six weeks later and made another $3 million.

But it would have cost you more than $10 million to take delivery and store it for a month and then deliver it to the end buyer.

I don’t think your apartment in Red Deer is big enough to store 100,000 barrels of oil.

Look at the graph you posted twice. Does the line near the bottom in places? Yes, but READ THE NUMBERS ON THE VALUE AXIS on the right side. What is the bottom value? It’s +$32.

A “negative closing” in the stock market occurs when a company’s stock ended the trading day at a lower price than it opened with that day.

As for the question, it is rare but technically possible for commodity prices to go negative. It means something like there is much more supply than demand, and there is a cost to store and deliver the commodity, so you’re expected to lose money if you buy the commodity because it’s expected that you’ll end up losing money by the time it sells because of the time to sell and the costs of storage and delivery.

See https://www.ig.com/en/news-and-trade-ideas/what-do-negative-oil-prices-mean--200507