When oil prices crash and go negative for the first time in US History?
Correct answer: C. On 20th April 2020
- A. On 19th April 2020
- B. On 21st April 2020
- C. On 20th April 2020
- D. None of above
Explanation
US benchmark West Texas Intermediate futures briefly fell below zero on 20 April 2020 because storage was nearly full and traders were desperate to avoid taking physical delivery. This was the first negative price episode in US oil-market history.
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Global economy covers growth, inflation, interest rates, exchange rates, public debt, trade and employment across major economies. It also includes the work of the IMF, World Bank, WTO and central banks, along with oil and commodity prices, supply-chain disruptions, sanctions, trade agreements and the economic effects of international crises.
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