Brent Crude crashes over 20% to below $20 per barrel
21 Apr, 2020 09:52 / Updated 1 hour ago
"Following this week’s historic crash of US crude benchmark West Texas Intermediate (WTI), international benchmark Brent has plunged to the lowest level since 2001 on Tuesday, trading below $20 a barrel.
US oil plunged into negative territory for the first time on record on Monday, as economies around the world shut down to contain the coronavirus pandemic, crippling global demand for energy. The buildup of inventory has triggered a sharp selloff of the commodity on the markets, amid uncertainty over storage capacity for excess oil.
After briefly rising above $1 per barrel on Tuesday, the June WTI contract sank into negative territory again to – $7.65 per barrel."
moar:
https://www.rt.com/business/486427-brent-crude-crashes-wti/
20 per barrel represents approx $1 per gallon or less