Apr 21, 2020

📉🛢️💣 ~ US oil prices crash below ZERO for first time ever (DW) ~ |

Source (DW news)

The benchmark US crude price headed into the negatives for the first time ever on Monday, following a day of record declines.

The West Texas Intermediate (WTI) benchmark fell to below -$30 as the May contract deadline approached, meaning sellers would pay buyers to take the papers off their hands before the deadline by the time the bell rang on Wall Street.

The drop comes amid a one-third decrease in demand for fuel, and a global halt to industry, travel and economic activities that normally utilize oil.(READ MORE)


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