Oil prices entered a stunning free-fall this week as the industry ran low on places to store the petroleum it can’t sell but keeps pumping amid the coronavirus pandemic. The value of oil slated for delivery next month is at $30 below zero per barrel — the first time in history the price of crude dipped into negative territory. The downturn has wiped billions from the balance sheets of industry titans like Exxon Mobil Corp. and Chevron Corp. The “ financial bloodbath ” analysts predicted last month overflowed as hundreds of U.S. oil producers limped toward bankruptcy and the industry laid off more than 6,000 workers in a single day. Get Grist in your inbox Always free, always fresh Ask your climate scientist if Grist is right for you. See our […]