COVID-19 Impact: Oil Prices Briefly Plunged Below US$0/Barrel

Market

Lite

Yosepha Pusparisa 21/04/2020 11:02 WIB

URL has been copied

Memuat...

Oil prices plummeted to historic lows due to the Covid-19 pandemic. WTI oil traded at a negative US$37.63 per barrel on Monday, April 20th. Brent crude oil was priced at US$25.57 per barrel on Monday

A Font Kecil
A Font Sedang
A Font Besar

Access single data

COVID-19 Impact: Oil Prices Briefly Plunged Below US$0/Barrel

Want to get more access to Data Stories with a more affordable price? Subscribe.

By subscribing, you join us in presenting quality data.

Get:

Premium Data Stories access
Comfortable reading without ads
Download data in XLS, PDF, and image format
Access to data source information

Basic

~~Rp100.000~~

Rp50.000/month

Professional

~~Rp100.000~~

Rp150.000/month

Institutional For organizations

We accept the following payments:

Some payment methods are still in the process of being activated.

Global Crude Oil Daily Price (April 21)

Download

Source

A Small Font
A Medium Font
A Bigger Font

Oil prices for the May 2020 contract have shown a downward trend in recent days. West Texas Intermediate (WTI) crude oil was priced at US$21.3 per barrel on Tuesday (April 21st). This follows a price of negative US$37.63 per barrel the previous day, the lowest in history.

The negative price of WTI crude oil is a consequence of the COVID-19 pandemic. Reduced demand and oversupply are the main causes. Amidst the threat of the coronavirus, billions of people worldwide have reduced travel to curb the spread of COVID-19.

Brent crude oil prices have also fallen over the past week. Brent crude traded at US$25.41 per barrel on Tuesday (April 21st), lower than the previous day's US$25.57 per barrel. However, its price is still supported by significant global storage capacity.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."