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Question 3:In the spring of 2020 oil prices took an unprecedented decline.On April 20th, the price of the benchmark West Texas Intermediate (WTI) futures contract

Question 3:In the spring of 2020 oil prices took an unprecedented decline.On April 20th, the price of the benchmark West Texas Intermediate (WTI) futures contract fell below zero for the first time in its history.Using your supply and demand diagrams explain why oil prices have fallen.Be sure to include all the factors contributing to the fall.

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