U.S. crude prices on the May contract have dropped below zero for the first time in history.
The price for oil has entered uncharted territory as it dropped to negative $1.43, down 106% on the May contract. The extreme drop is because of oversupply caused by plummeting demand that pushes storage facilities to their limits.
**Written by Mo Fahim
Something going on in the Cariboo you think people should know about?
Send us a news tip by emailing [email protected].
- Advertisement -
