Oil Prices Plummet to br Minus $37 a Barrel U.S. crude prices reached their lowest br level on record, with West Texas Intermediate br crude dropping to minus $37.63 a barrel. Oil’s May contract, known as its front month, br has been hit the hardest with deliveries set to br take place while the country is on lockdown. As demand for gasoline br from refineries decreases, br storage tanks are also br beginning to near their limits. ANZ strategist Daniel Hynes, via ‘Squawk Box’ OPEC and its oil-producing partners finalized br a historic agreement earlier this month to cut br production by 9.7 million barrels per day on May 1.