West Texas Intermediate crude ended the trading session on the New York Stock Exchange on Tuesday, recording a high of $ 10.01 a barrel, after the price deterioration to an unprecedented level in history of $ 37.63 under Zero.
At the close of trading, the price of West Texas Intermediate crude oil for May delivery recorded $ 10.01 dollars, but June June futures fell 43 percent to $ 11.57 a barrel.
This comes in the wake of the deterioration of the American oil prices listed on the New York Stock Exchange for the first time in history to below zero at the end of Monday´s trading session due to an inventory glut that forced investors to pay for the disposal of crude.
Because storage facilities in the United States have been overwhelming in recent weeks, dealers have been forced to pay people to find buyers, which has caused WTI crude price to reach $ 37.63 below zero with the end of trading on Monday.
On Tuesday, the Organization of Petroleum Exporting Countries (OPEC) announced that many of its member states, in addition to other producing countries that do not belong to the organization, discussed through the video the "shocking situation" of the crude market, which was manifested in a historical decline in prices against the background of the Covid-19 epidemic.
