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Energy 20 Apr 2020 | 9:21 PM

Oil futures in the US drops below zero for first time with May contract ending

(Bloomberg) -- Oil futures collapsed to below zero for the first time ever as the deepening economic turmoil caused by the coronavirus crisis left traders desperate to avoid taking delivery of physical crude.(Bloomberg) -- Oil plunged below US$5 a barrel as the coronavirus pandemic ravages global economies, threatening to erase an entire decade of demand growth, slashing thousands of jobs and wiping out hundreds of billions of dollars from company valuations.