U.S. crude oil futures for May plummet to minus $37 β€” lowest price in history

U.S. crude oil futures for May plummet to minus $37 β€” lowest price in history

U.S. crude oil prices dropped by almost 300 percent to turn negative for the first time as plunging demand pushed storage facilities to their limits.

May delivery for the U.S. benchmark crude, West Texas Intermediate, sank to a new low of minus $37.63 a barrel by the close of the oil market Monday, a staggering level that essentially means producers would be paying buyers to take oil off their hands.

Snowmobile Trail Crosses Into Marshes

This is as far as I got on the Stewart Creek Trail. Despite wearing my muck boots I thought this seemed a little more soggy then I was prepared to get in the mud.

Taken on Sunday April 19, 2020 at Stony Creek.

Flatwater

Below the chute on Stewart Creek is another large flatwater, but this one is a lot narrower and less marshy.

Taken on Sunday April 19, 2020 at Stony Creek.

Dusting Of Snow

When I awoke on saturday morning there was a pretty dusting of snow, and it was pretty chilly, though sitting by the heater it wasn't too bad.

Taken on Saturday April 18, 2020 at East Branch Sacandaga River.

Coronavirus Live Updates : NPR

U.S. Crude Oil Prices Go Negative As Demand Disappears : Coronavirus Live Updates : NPR

The dramatic collapse in worldwide demand for oil led to an extraordinary development on Monday: U.S. oil prices fell below zero for the first time ever, and kept falling.

The key U.S. oil benchmark, West Texas Intermediate, settled at negative $37.63.

Driven by a trading contract deadline, traders desperately looked for buyers for the barrels of oil they normally hold in their books. But buyers were hard to find — even when the oil was being given away for free.