US President Donald Trump said Monday he still plans to fill the Strategic Petroleum Reserve to take advantage of record-low oil prices, but he gave no new details on how the administration would buy the crude without approval from Congress. A dire lack of US oil storage capacity led Monday to the expiring front-month NYMEX WTI contract settling in negative territory at minus $37.63/b, down $55.90/b from Friday. The contract had never before traded in negative territory, and the previous record low front-month settlement was $10.42/b on March 31, 1986. After Monday’s selloff, Trump said oil prices were “at a level that’s very interesting to a lot of people.” Podcast: Sizing up oil demand recovery scenarios after a shocking spring Related: NYMEX WTI settles in negative territory for first time amid lack of storage “We’re […]