US oil futures continue to tread in negative territory, Brent plunges

US oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first ever sub-zero dive, as concerns grew the United States will run out of storage for a glut caused by the coronavirus lockdown. Global benchmark Brent crude also fell sharply in response to the collapse of demand following reduced economic activity.

US West Texas Intermediate (WTI) crude for May delivery traded at minus $7 a barrel by 0955 GMT, up $30.63 from Monday's close when the contract settled at a discount.

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