US Oil Falls Below Zero, Wall Street Ends Lower
April 20, 2020 8:39PM EDT
The price of oil reached a new recent low today and it looks like it will continue to fall. Having once worked in the oil and gas industry and then recently unemployed from it, I am thankful that I have a job right now, nevermind it is not in the oil and gas industry. But I do feel for many friends and co-workers that I do know who are unemployed.
Wall Street followed oil prices lower Monday. The price of US crude has fallen below zero for the first time in history. Trading as low as just over minus-40-dollars per barrel before settling at -$37.63. A plunge from Friday’s already anemic close of $18.27.
The Dow closed -2.44% lower. Down -592 points at 23,650.
The Nasdaq ended the day -1.03% lower. Down -89 points at 8,561.
And the S&P 500 lost -1.79%. Dropping -51 points to end trading at 2,823,
How low are gas prices in your area? Do you think that they’re still too high? How low do you think they’ll go? How long will US oil remain in negative territory?
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