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The world is awash in oil as demand drops from businesses and consumers alike amid the coronavirus pandemic. We re also running out of places to store it.That in a nutshell explains Monday s strange and unprecedented action in the market for crude oil futures contracts, where traders essentially offered to pay someone else to deal with the oil they were due to have delivered next month.The price of U.S. benchmark crude t <a href=https://www.stanleycup.com.se>stanley cup</a> hat would be delivered in May was selling for around $15 a barrel Monday morning, but fell as low as -$40 per barrel during the day. It was the first time that the price on a futures contract for oil has gone ne <a href=https://www.stanley-cups-uk.uk>stanley cup</a> gative, analysts say. It s the worst oil price in history, which shouldn t surprise us, because it s the inevitable result of the biggest supply and demand disparity in history, said Ryan Sitton, commissioner at the Texas Railroad Commission, which regulates the state s oil industry.There s little mystery as to why there s so little demand for oil: Efforts to limit the spread of the coronavirus have major cities around the world on lockdown, air travel has been seriously curtailed, and millions of people are working from home, leading to far fewer commuters on the roads. The jaw-dropping oil price collapse may not be over, cautioned Edward Moya, senior mark <a href=https://www.stanleycups.ro>stanley cup</a> et analyst at OANDA in a Tuesday research note to clients. Today, traders are saying that they are not waiting till the next expiry to make oil price Kidl China-linked influence campaign targeting U.S. midterms, security firm says
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