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Oil price goes negative as demand collapses; stocks dip

New York pandemic economy Coronavirus
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fox29.com:

A barrel of oil was priced at negative $3.70 on Monday, April 20. NEW YORK - Oil prices plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic.

A barrel of benchmark U.S. oil for May delivery fell to negative $37.60 per barrel as traders sought to avoid owning crude oil with nowhere to store it.

Prices for other oil contracts also plummeted as storage facilities for crude approach their limits. The S&P 500 fell 1.8%, giving up some of the big gains from its first back-to-back weekly gain since February.THIS IS A BREAKING NEWS UPDATE.

AP’s earlier story is below:Oil futures plunged below zero for the first time on Monday as demand for energy collapses amid the

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