Negative oil price plunge a short-term anomaly with limited impact: analysts

A Calgary energy analyst says the plunge by benchmark U.S. crude oil prices into negative territory for the first time on Monday is a short-term anomaly that likely won't have a lasting effect on Canadian producers. Matt Murphy of Tudor Pickering Holt & Co. says the drop in West Texas Intermediate near-month contract prices below negative US$37 per barrel is due to unique circumstances. Prices collapsed due to fear that storage tanks are growing dangerously close to full amid the coronavirus