Coronavirus Updates: Oil Plunges Below $0; Pandemic Dampens 4/20 Celebrations

President Trump and members of the U.S. coronavirus task force hold the daily briefing at the White House.

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The price on oil futures fell into negative territory — minus $37.63 a barrel. The reason: with the pandemic bringing the economy to a standstill, there is so much unused oil sloshing around that American energy companies have run out of room to store it. And if there’s no place to put the oil, no one wants a crude contract that is about to come due.

Like so many other things, the coronavirus pandemic is set to dampen 4/20 celebrations, meaning cannabis retailers can’t depend on the sales spike they’ve come to expect on the industry’s biggest holiday. For obscure reasons, April 20 is the most important day of the year in stoner culture, typically marked by festivals, parties and smoke-ins. (The most common origin story is about a group of 1970s high-school students who’d meet at 4:20 p.m. to search for a legendary abandoned marijuana crop.)

Governor Andrew Cuomo said New York appeared to be “on the other side” of the outbreak. The state reported 507 new deaths, the lowest daily toll since April 6. Total new cases and hospitalizations also dropped. “If this trend holds we are past the high point,” Cuomo said. “Right now we are on a descent.” But he cautioned “we still have a long way to go and a lot of work to do.” The governor also said that New York will begin an aggressive program to test for antibodies.

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In This Story: Andrew Cuomo

Andrew Mark Cuomo is an American politician, author, and lawyer serving as the 56th governor of New York since 2011. A member of the Democratic Party, he was elected to the same position his father, Mario Cuomo, held for three terms. He has served as Chair of the National Governors Association since August 2020.

Cuomo received national attention for his handling of the COVID-19 pandemic in New York and has written a book about his experiences of the event – released on November 10th 2020.

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