Negative oil futures price reflects shock of pandemic

By Zheng Xin | China Daily | Updated: 2020-04-22 07:34Analysts said the US oil futures price turning negative reflects an energy market continuing to reel from the dual demand-supply shock amid the COVID-19 pandemic, and China should further increase domestic oil and gas storage facility construction for better energy security.The May contract for US oil benchmark has turned negative for the first time in history, as the coronavirus pandemic decreased demand for fuel amid insufficient storage for the massive glut of oil.West Texas Intermediate for May delivery shed $55.9 to settle at-$37.63 a …

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