The price of West Texas light crude oil went through the floor on Monday, writes Joel Hills.

Texas oil price goes through the floor as traders can't give it away

Traders were being paid more than 40 dollars to buy a barrel.

US oil price turns negative for first time in history as demand collapses

OPEC and oil-producing nations agreed to cut oil production by nearly 10 million barrels a day. 

The business stopped short of banning companies with large carbon footprints, such as car-makers, from its pages.

Journalists were given access to the damaged Saudi Arabia oil field.

Iran’s president and foreign minister could skip next week’s high-level meetings at the UN as the US has yet to issue them visas.

US president Donald Trump said it ‘looks like’ Iran was behind the attack.

The development emerged in a statement quoting Stena Bulk chief executive Erik Hanell.

The ship has already left the British territory following a Supreme Court decision.

The Stena Impero’s owners said they hoped the communication was a sign of possible progress with the Iranian authorities.

The crisis in the Gulf will be one of the first challenges facing the incoming prime minister Boris Johnson.

Oil and gas prices will be affected if tensions in the area continue, according to a leading authority on British shipping.

Council spokesman Abbas Ali Kadkhodaei said "the rule of reciprocal action is well-known in international law".

Stena, the company which owns the tanker, says they are unable to contact the vessel, which is now heading towards Iran.

The USS Boxer took defensive action after the drone closed to within 1,000 yards of the warship, the president said.