記錄： US oil finishes at NEGATIVE $37（04/20/2020）

Worst day ever: US oil finishes at NEGATIVE $37

US oil prices turned negative Monday for the first time ever as the great oil crash of 2020 took a bizarre turn.

Crude finished at -$37.63 a barrel, marking the only time it has gone below zero since oil futures began trading on NYMEX in 1983. 

The historic collapse shows just how terribly oversupplied the oil market has become. There are real fears that the world will soon run out of places to store barrels. 

Producers are essentially PAYING to get rid of their barrels. 

Part of the reason oil was so volatile is that trading volume was very light in the May contract, which expires Tuesday. That low liquidity set the stage for the unusual scenario of negative prices. 

Although the May contract turned negative, the June contract was still trading above $20 a barrel. Brent crude, the world benchmark, traded above $25. 

Crude finished at $18.27 a barrel on Friday, meaning they collapsed by more than 200% in one day. 

https://www.cnn.com/business/live-news/stock-market-news-042020/index.html

 

Stocks close in the red

From CNN Business' Anneken Tappe

US stocks finished lower on Monday, amid a historic selloff in the oil market.

US oil futures settled in negative territory for the first time in history as demand for the commodity remains thin and storage capacity in the US is at its limit. The May futures contract is also about to expire, which made trading more erratic.

• The Dow closed 2.4%, or 592 points, lower. It was the worst day for the index since April 1.
• The S&P 500 finished down 1.8%.
• The Nasdaq Composite closed 1% lower.
• https://www.cnn.com/business/live-news/stock-market-news-042020/index.html
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