Articles by Catherine Ngai, Olivia Raimonde and Alex Longley
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Oil Plunges below Zero for First Time in Unprecedented Wipeout
Catherine Ngai, Olivia Raimonde and Alex Longley | Bloomberg - TRANSCEND Media Service, 27 Apr 2020
20 Apr 2020 – Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than today’s collapse in a key segment of U.S. oil trading:
* U.S. crude trades at lowest level in data going back to 1946.
* Crude in U.S. trades more than $40 below zero at lowest level.