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What does the current oil crisis mean for Canadians?

Source: Allison Bench, globalnews.ca, April 22, 2020

Some companies are raising the alarm over the current pricing crash, while others remain optimistic.

Consumers may not see any immediate repercussions from the historic negative levels that global oil prices are now facing, but experts say that in the long run it could make life more difficult for some Canadians, especially in Alberta.

On Monday, the West Texas Intermediate contract for May delivery fell US$55.90 to US-$37.63 per barrel — which means contract holders were paying others to take the oil off their hands. On Tuesday, contract expiration day, the amount returned to positive territory, settling at US$10.01.

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