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And from that article, it sounds like the software literally couldn't process trades with negative prices, which would have prevented selling (and a lot of the language used implies that's exactly what happened -- specifically "locked in").
I'm assuming the exchange automatically bought it from them since that's where the bill came from, but then where does the oil actually go? If there's no storage left presumably the exchange can't take delivery either.
At that point I’m guessing they have to start paying storage fees to whoever has physical possession kinda like “bud either I unload this tanker or you start paying me rent for storage space for your oil”
Yeah it seems like there must be a cash settlement built into the contract itself -- though I can't seem to find the actual text of that contract anywhere.
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