Crude oil prices take record tumble as demand remains low

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Prices for West Texas Intermediate crude oil in an expiring futures contract fell below zero for the first time Monday as an oversupplied market and a virtual elimination of demand because of Covid-19 led to an erasure of value.

But analysts cautioned the negative prices don’t create the bleak picture that they would seem to indicate.

Because futures contracts have a specific delivery date, the…


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