U.S. Oil Prices Fall To $11 Per Barrel In Historic Crash

The front-month WTI crude contract crashed by 37 percent early on Monday as the May contract expires on Tuesday and the market fears there is not much storage left in the United States amid collapsing demand in the coronavirus pandemic. At 8:54 a.m. EDT on Monday, the front-month WTI Crude price was plummeting by 37.22 percent at $11.47. The Brent Crude front-month contract was also under pressure, trading down 6.02 percent at $26.39.
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