HONG KONG (Bloomberg): Oil rebounded in Asian trading, after plunging below zero for the first time in history amid rapidly filling American storage tanks, as the US benchmark’s May contract entered its final trading session.
Futures in New York traded at around US$2 a barrel after sinking to as low as minus US$40.32 during Monday’s jaw-dropping collapse. The June contract, however, which had trading volumes more than 40 times higher, rose past US$22.
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