U.S. oil prices turn negative for the first time ever as the coronavirus crisis caused global demand to collapse.

Crude Oil WTI Futures Historical Data and U.S. Energy Infomation Administration's Energy outlook report confirm the claim.

Crude Oil WTI Futures Historical Data and U.S. Energy Infomation Administration's Energy outlook report confirm the claim.The West Texas Intermediate (WTI) crude oil futures settled at minus $37.63 per barrel on 20 April 2020. BBC said it was the lowest negative crude oil future price that WTI had ever attained in history as demand dried up.

The market review published by the EIA on crude oil stated that the containment efforts related to the 2019 novel coronavirus disease have caused a decline in demand for crude stocks for the months of March and April 2020 and forecasted that the demand will decline by 5 percent in 2020.

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