BREAKING!!! Crude Oil Crashes To ALL Time Low, TRADES AT $0 (18 CENT) PER BARREL

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Following the outbreak of the deadly Coronavirus, crude oil, on Monday, collapsed to below zero for the first time ever as the deepening economic turmoil caused by the coronavirus crisis left traders desperate to avoid taking delivery of physical crude.

In an unprecedented day of trading, the price for the May contracts wiped out all value, breaking every low for oil prices since 1946.

The exchange where WTI futures trade said the contract would be allowed to price below zero. The extreme move showed just how oversupplied the U.S. oil market has become with industrial and economic activity grinding to a halt as governments around the globe extend shutdowns due to the swift spread of the coronavirus. An unprecedented output deal by OPEC and allied members a week ago to curb supply is proving too little too late in the face a one-third collapse in global demand.

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About Wisdom Nwedene 7404 Articles
Wisdom Nwedene is a seasoned investigative reporter. He is currently an editor @9News Nigeria and also a social media strategist, writer, freelancer, motivational speaker. To always get our news update on WhatsApp, call or text 'add me' to. ,08087291655 or send me message via Facebook : Wisdom Nwedene(https://www.facebook.com/wisdom.nwedene) Share your story with us:08087291655 ( Call & SMS only) Email: Nwedenewisdom@gmail.com

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