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Negative $40 oil reflects panic - and U.S. crude market economic reality

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Home Blogs > Business
Apr 20 '20 | By oiam2companyadmin | Views: 57 | Comments: 0

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Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the massive glut of oil present on U.S. soil.
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Source: https://www.reuters.com/article/us-global-oil-contracts/negative-40-oil-reflects-panic-and-u-s-crude-market-economic-reality-idUSKBN2221TS?feedType=RSS&feedName=businessNews

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