Coronavirus lockdown has triggered a series of unprecedented incidents across the world and the latest on the list was falling of US oil price below $0 per barrel.
This was due to the lack of demand for the oil as there is no space to store the same across the countries. With scarcity to store crude oil, the US benchmark West Texas Intermediate for May delivery ended trading at -$37.63.
Thankfully, the price of oil bounced back and recovered at $1.10 a barrel after a couple of hours. However, within those hours, social media was already out to “buy” a barrel of oil.
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