Oil futures prices fell below zero for the first time in history, as a market glut fueled by the economic fallout from the pandemic drove a selloff by traders desperate to avoid taking delivery of physical supplies of the commodity.
May futures contracts of U.S. crude, which trade as West Texas Intermediate (WTI), fell $55.9, or 306 percent, to settle at a discount of $37.63 a barrel after touching an all-time low of minus $40.32 a barrel.
