Fall of US stocks for the second day affected by the historical collapse

0
93


US stocks began a decline for a second day in a row, Tuesday, affected by the historic collapse in US crude prices below zero and a bleak outlook for the quarterly results portending the largest economic downturn since the Great Depression.

The Dow Jones industrial average fell 285.19 points, or 1.21%, to 23,365.25 points.

The Standard & Poor’s 500 Index lost 38.35 points, or 1.36%, to record 2,784.81 points.

The Nasdaq Composite lost 100.04 points, or

1.17% to 8460.69 points.
And yesterday, US crude oil futures prices turned negative for the first time in history, ending the session at minus $ 37.63 a barrel, with dealers selling heavily, due to the rapid filling of storage facilities at the main delivery center in Cushing, Oklahoma.

And ended the US benchmark contracts for West Texas

The broker May delivery, trading session low $ 55.9, or 306%, to reach at the settlement minus $ 37.63 a barrel, after touching an all-time low of minus $ 40.32 a barrel.

On April 17, the United States’ oil reserves reached 635 million barrels, knowing that the maximum allowed capacity is currently 713.5 million barrels.

These huge quantities of oil are stored in four underground locations that extend along the coasts of the Gulf of Texas and Louisiana in the south of the country, with a maximum storage capacity of 727 million barrels.







LEAVE A REPLY

Please enter your comment!
Please enter your name here