India, April 23 -- As West Texas Intermediate (WTI) crude prices collapsed into the negative territory in an afternoon of frenetic trading, far too many assumptions were made about oil prices. Crude prices plunged below zero to touch a historic low of -$40.32 per barrel. Before anything else, one has to understand the basic nature of commodity trading, which is that, at the end of the day, a physical product has to be delivered and one has to accept this. The seller does not care what the trader or the buyer does with the finished product. Now, WTI crude, which is produced mainly in what we call the "Texas panhandle," is unique in the sense that it is delivered in one location, which is the town of Cushing in the US state of Oklahoma. In ...