Why Oil Prices Can Turn Negative?

Why Oil Prices Can Turn Negative

Why Oil Prices Can Turn Negative? The coronavirus pandemic caused an economic shutdown, unlike the world has ever seen. The US economy, which runs on oil, came to a halt as people followed orders to remain in their homes and not go into their offices. On April 20th, the effects of the pandemic forced crude oil prices in the futures market to sink below zero and into the negative territory for the first time in history. Oil prices plunged into negative territory. The price settled at get this negative thirty-seven…

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