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1. • Dwindling demand caused by COVID-19 shutdowns

     • US oil prices plummeted below zero at the close of market Monday, a historic first for the commodity. As dwindling demand caused by COVID-19 shutdowns pushed storage facilities to their brink, the price per a barrel dropped to negative $37.63 for May’s future contracts.
     www.futurity.org/oil-prices-decline-2344802/

     How can oil prices plunge below zero? - Futurity

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   Why did oil prices drop below zero on Monday?

   • A pumpjack pulls oil out of the ground in central Alberta. Oil prices dipped below zero on Monday, as the deadline neared to unload futures contracts. (Kyle Bakx/CBC) During these extraordinary times of the COVID-19 pandemic, a few hours can seem like a few days, and last week can feel like last month.

   The day oil was worth less than $0 — and nobody wanted it

   www.cbc.ca/news/business/oil-negative-price-1.5538996

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   Why did oil futures drop below zero for the first time?

   • The Price of Oil Futures Dropped Below Zero for the First Time Ever. Here's Why Golden yellow oil rig energy industry machine oil crude. O il futures 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.

   The Price of Oil Futures Dropped Below Zero for the First Time Ever

   time.com/5824353/oil-stock-may-negative/

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   Why did oil prices fall 4% on Tuesday?

   • Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. Supply and demand issues, including a slowdown in China's economy, are pressuring prices. OPEC cut its oil demand outlook and delayed production boosts, while US production hits record highs.

   Oil Prices Fall to Lowest Level Since 2021 on Demand Concerns - Markets

   markets.businessinsider.com/news/commodities/oil-prices-outlook-supply-demand-break-down-record-us-production-2024-9

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   Why did oil prices drop in May?

   • The drop is also the result of a highly technical feature of the American oil futures market, where oil is bought and sold in contracts for delivery at future dates. If you are “buying” oil today for delivery in May, you are demanding the seller pay you because you’re going to have to pay someone else to store it.

   The price of oil fell below $0. What happens next? - PBS

   www.pbs.org/newshour/world/the-price-of-oil-fell-below-0-what-happens-next

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3. www.ft.com › content › a5292644-958d-4065-92e8-ace55US oil price below zero for first time in history

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   Apr 20, 2020 · US oil prices crashed into negative territory for the first time in history as the evaporation of demand caused by the coronavirus pandemic left the world awash with oil and not enough...

   • Author: Myles Mccormick

4. www.cbc.ca › news › businessThe day oil was worth less than $0 — and nobody wanted it

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   Apr 21, 2020 · A pumpjack pulls oil out of the ground in central Alberta. Oil prices dipped below zero on Monday, as the deadline neared to unload futures contracts. (Kyle Bakx/CBC)

5. www.pbs.org › newshour › worldThe price of oil fell below $0. What happens next? | PBS News

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   Apr 21, 2020 · Trump shared that hope on Monday, saying the price decline was the result of a “short-term squeeze.” It’s hard to know if they’re right — the long-term effects of oil’s first-ever ...

6. time.com › 5824353Oil Futures Dropped Below $0 for the First Time. Here’s Why ...

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   Apr 20, 2020 · On Monday, a technical oddity exacerbated the price plunge as traders fled the May futures contract ahead of its expiration tomorrow. The following month’s contract fell 12% to $22.05 a barrel,...

   • Video Duration: 5 min

7. www.ft.com › content › 88997d67-bf69-409e-8155-911fcWhat negative US oil prices mean for the industry | Free to read

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   Apr 21, 2020 · Benchmark US crude oil prices traded with negative prices for the first time in history on Monday, sending shockwaves through the global energy sector.

   • Author: Anjli Raval

8. Videos

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     theguardian.com

     Oil prices dip below zero as producers forced to pay to dispose of excess

     Apr 20, 2020

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     finance.yahoo.com

     Gas prices are falling even with oil nearing $90 a barrel — here's why

     Oct 17, 2023

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     4:33

     time.com

     The Price of Oil Futures Dropped Below Zero for the First Time Ever. Here’s Why

     Apr 20, 2020

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9. markets.businessinsider.com › news › commoditiesWhy oil prices have cratered to their lowest level in nearly ...

   markets.businessinsider.com › news › commodities

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   Sep 10, 2024 · Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. Supply and demand issues, including a slowdown in China's economy, are pressuring...

10. www.futurity.org › oil-prices-decline-2344802How can oil prices plunge below zero? - Futurity

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    Apr 22, 2020 · US oil prices plummeted below zero at the close of market Monday, a historic first for the commodity. As dwindling demand caused by COVID-19 shutdowns pushed storage facilities to their...