U.S. crude oil’s historic plunge below zero
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The price of U.S. benchmark crude fell below $0 a barrel due to a drop in demand caused by the coronavirus – the first time that the price on a futures contract for oil has gone negative, analysts say
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West Texas Intermediate (WTI) crude oil price per barrel

$ 
40
0
-40

Dec 31 Jan 15 Feb 1 Feb 15 Mar 1 Mar 15 2019 2020 Apr 1 Apr 20


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Jan 6 $63.3
Apr 17 $18.3
Apr 20 -$40
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Jan 21: First U.S. case of coronavirus disease (Covid-19) confirmed

Mar 27: U.S. becomes first country to surpass 100,000 confirmed cases              
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Negative territory: Oil storage is running out due to global oversupply, so some companies are paying others to take supplies off their hands
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Sources: Associated Press, Bloomberg Picture: Associated Press
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