A numismatist walks into Nymex and buys 10 contracts—each for 1,000 barrels—for May delivery of WTI to Cushing. At settlement on April 20, it loses $92,490.

Okay, futures aren’t bought by actually walking into Nymex. But Robert Mish and his firm—he’s president; Susan Mish is office manager—are among the many who lost that day when holding contracts for May delivery of WTI.

One trader reported being unable to sell his contracts—the brokerage app couldn’t comprehend a sub-$0 trade.

Harold Hamm, founder of Continental Resources Inc., estimates producers alone lost $500 million, factoring for the “calendar month average” used in their contracts. The month’s average fell $3/bbl.

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