Oil Price Turns Negative in Historic First; Diesel’s Decline Continues

The price of oil dropped to its lowest level in history April 20, sinking into negative pricing as oil supplies are beginning to overwhelm the globe’s storage capacity.

During trading on the New York Mercantile Exchange, West Texas Intermediate crude for May delivery fell more than 100% to settle at negative $37.63 per barrel, meaning oil producers would pay traders to take the oil off their hands.

Meanwhile, diesel fuel prices continued their steady slide, according to the Energy Information Administration

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