Oil futures plunged below zero for the first time on Monday as demand for energy collapses amid the coronavirus pandemic and traders sought to avoid owning crude with nowhere to store it.
Benchmark U.S. crude for May delivery plummeted to negative $35.20, as of 2:30 pm. Eastern time. It was nearly $60 at the start of the year, before business-shutdown orders swept the world and idled factories, offices and automobiles.