Negative Oil Prices Explained

Earlier this week we've started seeing articles noting that oil prices have now gone into the negatives (meaning investors are paying to give away their oil). What is going on here? How does this make sense? As always with these weird and wonderful things, it's all basic economics. And to properly understand this, we're going to need to look at 3 things: Negative value items, the 2020 oil market, and how oil is actually sold!