Oil drops below $1 a barrel; lowest level in history

U.S. crude oil prices plunged to their lowest level in history, below $1 a barrel, due to an historic slump in demand from the COVID-19 coronavirus pandemic.
Eustance Huang and Pippa Stevens for CNBC:U.S. crude prices plunged to their lowest level in history as traders continue to fret over a slump in demand due to the coronavirus pandemic. The price of the nearest oil futures contract, which expires Tuesday, was the hardest hit, detaching from later month futures contracts with a drop of more t