NEW YORK: Oil prices cascaded significantly on Monday, plunging more than 300% to never-before-seen depths to close at -$37.63 a barrel as a supply glut forced traders to pay others to take the commodity.
With space to store oil scarce, US benchmark West Texas Intermediate for May delivery ended trading at -$37.63 a barrel ahead of Tuesday's close for futures contracts — when traders who buy and sell the commodity for profit would have had to take physical possession of it.
Space X owner and Argentine President Javier Milei meet at Tesla headquarters
Finance Minister briefs Prime Minister about his scheduled meetings with IMF, World Bank officials in US
Amazon is less than 2% away from crossing $2 trillion mark
UN report sheds light on the human cost of poverty in Myanmar, calling for immediate intervention
Pakistan successfully completing its existing $3 billion programme, says IMF chief
Awais Leghari attributes reduction in power tariff to PM Shehbaz Sharif’s directives for relief to masses
