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
Embed

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.

8109views
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