World going through ‘paradigm shift’ on oil as panic selling plunges WTI to historic lows

World going through ‘paradigm shift’ on oil as panic selling plunges WTI to historic lows – RT’s Max Keiser ...United Arab Emirates

Russia Today - Economy

Overflowing storage and collapsing demand due to Covid-19 lockdowns have driven the US oil futures to historic lows. There are signs the recent high prices may never come back, warns Max Keiser, the host of RT’s Keiser Report. The US West Texas Intermediate (WTI) crude futures were in free fall on Monday, dropping below $5 a barrel and headed for the $1 mark as May delivery contracts became worthless compared to June ones. $1A barrel of oil is now cheaper than a can of coke. pic.twitter.com/mxBMHKxHPZ— Murad Gazdiev (@MuradGazdiev) April 20, 2020 Between space running out at storage facilities, the supply glut due t

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