Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat

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 oil traded at negative prices on April 20, the first time the price for the WTI futures contract fell to less than zero since trading began in 1983. The next day, Brent crude oil, another global crude oil price benchmark, fell to $9.12 per barrel (b), its lowest daily price in decades.
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SynEnergy Partners LLC continues to monitor COVID-19 around the clock under the guidance of our Global Crisis and Regional Incident Management teams, and we have responded as a company with compassion for those who may be affected as well as an abundance of caution to limit the spread of the virus.

We are also taking measures to ensure business continuity remains unimpacted during this time.