barrel

That was a time of great uncertainty for the global economy — and U.S. prices for oil also plunged by around 300% to a negative settlement of $37.63 a barrel on April 20, 2020.

What changed this week is that U.S. sanctions on Russian oil producers could result in 1 million or more barrels per day of lower oil supply in the global market, said Thummel.

It purchased 1.7 million barrels a day in July, the last month before tariffs were imposed.

Founder Dan Evins, a Tennessee oil jobber, envisioned a restaurant and retail operation themed around old-time country stores, where people gathered to play checkers on barrels once used to deliver crackers.

In a small factory, nestled in the Yorkshire Dales, huge plastic barrels of white powder are stacked up next to giant whirring machines.