The Days of the “Oil Tycoon” May Be Over

John D. Rockefeller, the Oil Baron himself probably couldn’t have imagined the events of this morning as the price of oil dropped to an all-time low. Oil prices plunged into negative zero on Monday as demand for energy has collapsed amid the coronavirus pandemic. Traders on Wall Street dumped billions of shares in oil stocks because they do not want to get stuck owning crude without a place to store it.

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