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Oil prices keep crumbling, stocks around the world tumble

 

Last updated 4/21/2020 at 9:55am



STAN CHOE

AP Business Writer

NEW YORK (AP) — Oil's chaotic collapse deepened, and stocks around the world dropped on Tuesday as the economic carnage caused by the coronavirus pandemic turns markets upside down.

A day after oil futures plunged below zero for the first time, traders in one corner of the U.S. crude market were still close to paying others to take it off their hands. That's a market quirk created by a glut of oil, which has traders running out of places to store it in the near term.

Prices remain well above zero for oil elsewhere in the world and for deliveries further into t...



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