UPDATE: Oil Now Trading in Negative; Oil Prices Collapse to Lowest in Over 150-Year History

Update 2: Oil is now trading at negative $8.61 for May.

Update: Oil is now trading at negative five cents a barrel, the first time in history that oil is trading in the negative. The original article is below:

In a stunning turn of events, the price for WTI Crude Oil has crashed to less than five dollars a barrel in mid-day trading. At the time of writing this article, oil is $4.76 a barrel, shockingly lower than just a month ago.

Today alone, oil has fallen a staggering 74%, losing $13.51 today alone.

The crash has been exacerbated by the dramatic drop in demand from the coronavirus pandemic. This price is the lowest since 1973.