Crude Oil Intelwars May futures Oil WTI

BREAKING: Oil prices drop below $0 for the first time in history

On Monday afternoon, oil prices hit an all-time low, dipping below $0 for the first time in history. Traders blamed the drop on the expiration of the May futures contract on Tuesday coupled with a sharp decline in demand amidst the coronavirus shutdowns.

While May has taken a hit, June futures are currently trading above $20/barrel.

This is a developing story. Check back for updates.