Oil prices look unlikely to rebound any time soon, after effectively falling off a cliff edge yesterday.
Falling global demand for oil because of the coronavirus pandemic has pushed US prices into negative territory for the first time in history.
It means traders are effectively been paying anyone to take it off their hands, and there are hopes that the situation will lead to cheaper prices here for home heating oil and at the pumps in the coming weeks.
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Financial Advisor, Tommy Corbett of Carey Corbett Financial Services in Ennis says it’s a remarkable situation and one he doesn’t expect to turn around quickly.
