Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.

US oil hits sub-zero for 1st time in history as coronavirus keeps people home

Copy URL

Oil prices plunged into negative territory Monday as the global coronavirus pandemic keeps people at home and destroys demand for transportation fuel. The price of U.S. benchmark crude to be delivered in May fell below zero - a historic low - as storage capacity reaches its limit. That means sellers are paying buyers to take the commodity off their hands.

Have something to say? Post your comment

Other useful Links

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service