US President Donald Trump described a historic drop in oil prices on Monday (April 20) as short-term and stemming from a "financial squeeze," adding the administration would consider stopping oil shipments from Saudi Arabia to lift the market.<br /><br />Speaking at a daily news conference, Trump also said his administration planned to top up the nation's emergency crude oil stockpile as prices plunge.<br /><br />US crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.<br /><br />WATCH MORE: https://thestartv.com/c/news<br />SUBSCRIBE: https://cutt.ly/TheStar<br />LIKE: https://fb.com/TheStarOnline
