It's just the expiry of the futures contract. Traders holding May futures are freaking out because they have to get rid of their contracts or they have to take physical delivery of this oil. None of them can do that, so they're getting rid of their contracts at all cost. June Futures are currently trading at 21.50. Back to "normal" in a couple days. The big question here is will the production cuts starting May 1 be enough to offset the current decrease in demand from the whole world being shut down. I'm afraid the answer is no and we will see even more storage problems in the future. Market sentiment is not great but definitely not negative with September futures trading at 30.50 and December trading at 33. We really just need the production cuts to happen and get extended, then the world to open back up and demand go back to normal(wishful thinking).