The price of WTI crude oil finished trading at the commodity exchange in new York at around minus 37, $ 63 per barrel, having fallen in price by 300 %.
Today may futures WTI broke the historical record, first falling to zero, and after dropping into negative numbers. Such a sensational decline due to the fact that Tuesday will be the last day for the sale of this oil. While storing these raw materials elsewhere - the Demand is very quickly fell, and the storage is almost full.
Demand for petroleum products very quickly fell due to a pandemic coronavirus, during which most countries have closed borders, and businesses stopped work.
Also negatively affected quotations of the inability of OPEC to reach consensus on a new deal in March. As a result, the contract was only signed in mid-April, but it did not help to stabilize prices in the market.
OPEC and international energy market are expecting a record fall in the demand for petroleum products due to excess raw materials.
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