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.
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.”
Organic farmers are using a novel approach to weeding their fields. Using giant flamethrowers attached to their tractors, the farmers burn unwanted weeds away.
More and more, people don’t care about expert views. That’s according to Tom Nichols, author of “The Death of Expertise,” who says Americans have become insufferable know-it-alls, locked in constant conflict and debate with others over topics they actually know almost nothing about. Nichols shares his humble opinion on how we got here.
April 16, 2020: A meteor impacted the earth in Akure, Nigeria at an angle of 43 degrees on March 28, 2020. The space rock left a large crater and created an ejecta blast zone that damaged many structures. #AsteroidImpact #MeteorExplosion #CometSwan