By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers

NEW YORK (AP) — Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders sought to avoid owning crude oil with nowhere to store it. A barrel of benchmark U.S. oil for May delivery fell to negative $35.20 per barrel. While the foray into negative territory was largely due to technical reasons, prices for other oil contracts also plummeted as storage facilities for crude approach their limits. The S&P 500 was down 1.2%, giving up some of the big gains from its first back-to-back weekly gain since February.

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