The Dow Jones dipped 2.44% to 23,650 as prices of crude oil tumble to the lowest record and fell to the negative level for the first time. West Texas Intermediate (WTI) futures prices for May contract plunged to –USD37.63 per barrel as the coronavirus pandemic cut demands. Brent futures prices for May contract conversely was stable still at USD22.74 per barrel. We pencil in that the record-low prices of crude oil are likely to subdue stocks of oil and gas.
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