West Texas Intermediate, one of the world's main oil benchmarks, hit its lowest price ever in trading on the New York Stock Exchange on Monday, with futures for May delivery hitting $0 per barrel after 2 pm EST and going negative, to as low as -$34.87 per barrel as of about 2:30 pm, according to market data, APA reports quoting Sputnik.
The benchmark is on track to its lowest-ever close since the inception of futures trading in 1983. The previous lowest-ever close of $10.42 was recorded on March 31, 1986, according to Jim Bianco of Bianco Research.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
