Oil prices ended New York trading in the negative on Apr 20, 2020, for the first time ever, as a supply glut forced traders to pay others to take the commodity. AFP/HAIDAR MOHAMMED ALINew York - Oil prices ended New York trading in the negative on Monday for the first time ever, as a supply glut forced traders to pay others to take the commodity.
The unprecedented price drop is a consequence of the coronavirus pandemic, which has devastated the global economy by forcing billions of people to stay home to stop its spread, and an ongoing price war between top producers Saudi Arabia and Russia.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: