DH Toon: Price of US oil plunged below $0 per benchmark barrel, fell to minus (-) $40.3
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DH Cartoon by Sajith Kumar
In an extraordinary turn of events, crude oil prices crashed dramatically into negative territory on Monday. At its lowest, the price of oil futures for May fell to minus (-) $40.3 a barrel, falling by over 300% in a single day, the steepest in the history of oil. Negative oil price – Is that even possible? Well, read on to find out if it is and what it means.