In Brief: Why oil prices tumbled below $0
Oil prices tumbled below zero this week. But what is a negative oil price? And what will it ultimately mean for the Canadian economy?
COVID-19 lockdowns have taken a major swipe at the dominance of oil … as the worth of a barrel of U.S. oil tumbled to less than nothing. That's the first time in history that the price has turned negative. So, what does that mean exactly — and how did it happen?
To explain it all, we talk to CBC News national business correspondent Peter Armstrong.