Oil prices

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 "Free fall" of US crude oil prices ... the value of a barrel is less than "zero"

 Economie

 Accurate reading

 Posted Monday, 20 April 2020

 Atlanta, USA (CNN) - The price of a barrel of US crude oil continued its "free fall" to fall below the "zero" dollar, and ranges between "0" and minus 1.43, at its lowest level since the NYMEX began selling futures contracts in a year.  1983.

 The US crude oil recorded its biggest decline since 1983, after the price of a barrel reached 1.02 dollars, earlier Monday.

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 The price of a barrel of US crude oil fell 94%, when the price of a barrel was 1.02, within one day, after the price of the barrel was 18.27 dollars on Friday.

 This historic collapse is an indication that the agreement signed by the "OPEC +" group announced at the beginning of this month is not sufficient in light of the unprecedented decline in demand due to the spread of the Corona pandemic.

 The expiration of May / May futures contracts is an important factor in the massive collapse in oil prices, adding to concerns about storage capacity shortages.

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