Oil prices in the US have crashed below zero for the first time in history as demand for energy plummeted due to the coronavirus pandemic.

The historic fall was fuelled by traders not wanting to get stuck owning crude oil with nowhere to keep it. The dramatic decline in demand due to the COVID-19 crisis means that storage facilities are nearly full.

Tanks could hit their limits within three weeks, according to analysts.

Brent LCOc1 was down by 147 %, at $ -8.60 a barrel.