Business

The price of oil dropped to its lowest level in history April 20, sinking into negative pricing as oil supplies are beginning to overwhelm the globe’s storage capacity.

Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.

Global commercial vehicle production will plunge 20% this year compared with 2019, with the North American market slumping more than 30%, according to an analysis from IHS Markit.

JBS SA, the world’s top meat company, will shutter its pork processing facility in Minnesota following an outbreak of the coronavirus, adding to concerns that slaughterhouse logjams will tighten meat supplies for consumers.

Wabash National Corp. announced plans to implement a two-week idling of operations and companywide furlough from April 20 to May 3.

General Motors Co.’s and Ford Motor Co.’s finance arms likely face multibillion-dollar losses linked to the dramatic drop in used vehicle prices, JPMorgan Chase & Co. analysts said.

The Greenbrier Cos. is cutting hundreds from its workforce and suspending railcar production at its Portland, Ore., facility due to the economic impact of the coronavirus, the company announced April 16.

Stocks have fallen in early trading on Wall Street April 20, as energy stocks get hammered by the latest collapse in the price of oil.

Drivewyze announced it expanded its notifications of temporary rest area parking to include Arizona, Virginia and Ohio.