Day: April 20, 2020💾

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

U.S. crude oil futures for May plummet to minus $37 — 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.

Flatwater

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

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