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Crude oil for May delivery remained in negative territory on Tuesday, a day after hitting its lowest-ever level.

The contract traded positive at one point before heading lower again.

West Texas Intermediate oil futures expiring in May traded as low as -$16.74 a barrel on Tuesday, up from Monday's close of -$37.63.

That selling pressure seeped into WTI crude contracts for June, which fell as much as 42%, to $11.89 a barrel. Brent crude slid 29%, to $18.10 at intrasession lows.

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Wait.. What? How DOES Oil Drop Below ZERO Dollars A Barrel?

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