US crude that’s worth less than nothing

‘The oil glut is so bad in the US that one buyer said it will have to be paid to take North Dakota’s low-quality crude.

The price list of Flint Hills Resources, a refining company owned by billionaire brothers Charles and David Koch, puts the price of North Dakota Sour at -$0.50 a barrel. This is a high-sulfur grade of crude, and in January 2014 cost $47.60, which is almost $20 more expensive than today’s price of the Brent benchmark.’

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