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US oil price falls below $0 a barrel for the first time in history

The US crude crashed on Monday, falling below $0 to $-1.43 at one point, the weakest level since New York Mercantile Exchange opened oil futures trading in 1983. This marks a historic one-day decline from Friday's close of $18.27 a barrel. Coronavirus crisis has reduced oil demand and producers have run out of places to store all their excess barrels.

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