US records a historic decline in crude oil prices | Masterstroke

US oil prices turned negative on Monday for the time in history. West Texas Intermediate crude for May delivery shed more than 300 per cent to settle at -37.63 USD per barrel. With the COVID-19 induced lockdown restricting movement across the world, demand for oil has all but dried up. As a result, oil firms have resorted to renting tankers to store surplus supply, forcing the price of oil in the US to the negative zone, the BBC reported. 

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