In the first half of 2020, responses to the COVID-19 pandemic led to steep declines in global petroleum demand and to volatile crude oil markets. The second half of the year was characterized by relatively stable prices as demand began to recover. As petroleum demand fell and U.S. crude oil inventories increased, West Texas Intermediate (WTI) crude … Continue reading Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat – U.S. Energy Information Administration