LIT Desi memes as crude oil price falls below $0

Social media is flooded with memes as crude oil price falls below $0:

Something unimaginable happened on Monday for the first time in history, US oil prices ended in negative as a supply glut forced traders to pay others to take the commodity. The prices of the best quality of crude oil in the world fell to “minus” $40.32 a barrel in New York. Not only is this the lowest crude oil price ever known — according to Bloomberg, the previous lowest was immediately after World War II — but also well below the zero-mark.

As nations around the world are going through lockdown, there is a drastic fall in the consumption of oil and producers around the world have continued to pump oil causing a fire-sale among traders who don’t have access to storage. At this price, the seller would be paying the buyer of crude oil $40 for each barrel that is bought.

Thankfully, the oil prices did bounce back in a couple of hours and traded above zero at $1.10 a barrel, but social media was already going crazy over the fact.

Netizens then started comparing the price of one barrel of oil against other everyday items. Some people said a barrel of oil is now cheaper than a roll of toilet paper or a Bisleri bottle, and the hashtags #OilPrices and #CrudeOil were trending on social media.

Desis and Vdesis soon joined the memes marathon:

Here is how people reacted to this news:

 

and yes Simpsons, predicted this also: