BREAKING NEWS!!! Crude Oil Crashes To ALL Time Low, TRADES AT $0 (18 CENT) PER BARREL


Following the outbreak of the deadly Coronavirus, crude oil, on Monday, collapsed to below zero for the first time ever as the deepening economic turmoil caused by the coronavirus crisis left traders desperate to avoid taking delivery of physical crude, Igbere TV reports.

In an unprecedented day of trading, the price for the May contracts wiped out all value, breaking every low for oil prices since 1946.


The exchange where WTI futures trade said the contract would be allowed to price below zero. The extreme move showed just how oversupplied the U.S. oil market has become with industrial and economic activity grinding to a halt as governments around the globe extend shutdowns due to the swift spread of the coronavirus. An unprecedented output deal by OPEC and allied members a week ago to curb supply is proving too little too late in the face a one-third collapse in global demand.


Details soon.....


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Source : http://igberetvnews.com/1348511/breaking-crude-oil-crashes-time-low-trades-0-18-cent-per-barrel/

This COULD be the sequence of events if no improvement in oil price say in 6months...

FG Deplete external reserve
FG can't pay salaries
No allocation to state govt
State govt cant pay salaries
Nation grinds to a halt
Severe hunger in the land
Revolution.

Mmmm

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