21-04-2020, 10:10
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#2387
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Perfect Soldier
Join Date: Mar 2009
Location: Worthing West Sussex
Age: 68
Services: VM 500M SH3 thingy
in modem mode
XL TV V6 Sony Bravia smart TV and M phone
Posts: 11,208
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Re: Coronavirus
Quote:
Quote from Reuters: NEW YORK (Reuters) - U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.
Brent crude, the international benchmark, also slumped, but that contract was nowhere near as weak because more storage is available worldwide.
While U.S. oil prices are trading in negative territory for the first time ever, it is unclear whether that will trickle down to consumers, who typically see lower oil prices translate into cheaper gasoline at the pump.
As billions of people around the globe stay home to slow the spread of the novel coronavirus, physical demand for crude has dried up, creating a global supply glut.
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__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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