Toggle light / dark theme

What negative US oil prices mean for the industry

Benchmark US crude oil prices traded with negative prices for the first time in history on Monday, sending shockwaves through the global energy sector.

But what are negative prices and what do they mean for the wider industry?

US oil prices traded below zero for the first time ever, meaning producers or traders were essentially paying other market participants to take the oil off their hands.

Kentucky reports highest coronavirus infection increase after a week of protests to reopen state

Democratic Kentucky Governor Andy Beshear announced Sunday that the state had set a grim record with 273 new confirmed cases of the coronavirus, the highest single-day rise to date. Kentucky’s increase in infected individuals comes after protesters took to the streets throughout the week to call for the state to be reopened.

With the 273 additional confirmed infections, Kentucky now has 2,960 cases of the novel virus and 1,122 recoveries. Beshear also announced four new deaths on Sunday, bringing the total number of fatalities across the state to 148.

“We are still in the midst of this fight against a deadly and highly contagious virus,” the governor said during his daily news conference. “Let’s make sure, as much as we’re looking at those benchmarks and we’re looking at the future, that we are acting in the present and we are doing the things that it takes to protect one another.”