U.S. oil price turns negative for first time in history

U.S. oil prices crashed to the negative territory for the first time in history(历史 lìshǐ) on Monday, fueled by pandemic-related demand(需求 xūqiú) shock and oversupply(过剩 guòshèng) fears.

[File photo: VCG]

The West Texas Intermediate (WTI) for May delivery shed(下跌 xiàdié)55.9 U.S. dollars, or over 305 percent, to settle at -37.63 dollars a barrel(桶 tǒng) on the New York Mercantile Exchange, implying that producers would pay buyers to take oil off their hands.

It marks the first time an oil futures contract has traded negative in history, according to Dow Jones Market Data. The May contract expires on Tuesday.

历史<名词 n.>

History

E.g. Zhège chéngshì yǒu liǎng qiān nián de lìshǐ.

这个城市有两千年的历史。

This city has a history of two thousand years.

Past event

E.g. Zhè jiàn shì zǎo yǐ chéngwéi lìshǐ.

这件事早已成为历史。

That's past history already.

History(as a branch of learning)

E.g. Wǒ zhǔ xiū lìshǐ.

我主修历史。

I major in history.