Mohamed El-Erian said Monday the U.S. economy could experience a double-digit percentage contraction in 2020 due to the coronavirus pandemic. “I think we may be at minus 10% to minus 14% growth for the U.S.,” he…

The spectacular collapse in oil markets is showing no signs of easing, as the coronavirus crisis saps demand and producers run out of places to store all their excess barrels of crude. What's happening: US oil…

Oil prices plunged to a record low and into negative territory on Monday as uncertainty mounted about storage for excess supply. WTI crude oil futures expiring in May plunged 321%, to -$40.32 a barrel, while Brent crude slid…

U.S. crude oil prices dropped by almost 300 percent to turn negative for the first time as plunging demand pushed storage facilities to their limits. May delivery for the U.S. benchmark crude, West Texas Intermediate,…

For decades, oil bears have made grand claims about oil prices crashing to $1. It was never really a claim that industry professionals would take seriously, with most observers viewing it either as fear-mongering or…

The front-month WTI crude contract crashed by 37 percent early on Monday as the May contract expires on Tuesday and the market fears there is not much storage left in the United States amid collapsing…