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Crude prices plunge below zero send 'oil tourists' on wild ride

The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, US November 24, 2019. Oil prices plummeted far below $0 a barrel for the first time in history on April 20, 2020. PHOTO | REUTERS


By  REUTERS

Jackson Ryder, a self-employed accountant based in Lubbock, Texas, first took up positions in a fund that tracks the oil futures market last week.

Since then it has been a wild ride with prices plummeting far below $0 a barrel for the first time in history on Monday. While he is down now, Ryder believes prices are going to rebound to about $8 a barrel.

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