Negative WTI and the SPR

[Etienne + 2]

Perhaps a smarter person than me can answer this question. With WTI trading in negative territory (minus $56 from Brent as I write), why is the federal government not loading up the SPR? It seems that the Net Present Value would be infinite and investment on behalf of taxpayers would be exponential. At negative cost, does Congress even need to approve?

[surrept33 + 609]

In all practicality, I'm guessing no government lawyers have looked into the legality of this, since oil futures have never been negative. That contract will expire tomorrow anyways, the spread between WTI and Brent in the June contract is much closer.