United States oil prices collapsed in historic fashion on Monday, dipping into negative territory for the first time ever as domestic oil demand remains extremely low.

For a futures contract expiring Tuesday, prices went below zero, meaning oil producers are willing to pay to have crude taken off their hands, according to CNBC. Currently, U.S. storage facilities are full to the point that barges have been filled with excess crude and are floating out at sea, the New York Times said.

With demand for oil at record lows because of the coronavirus pandemic, traders don't want to get stuck owning crude with nowhere to store it, the Associated Press reported. Benchmark U.S. crude oil for June delivery, which shows a more "normal" price, fell 14.8% to $21.32 per barrel.

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The U.S. had more than 783,000 confirmed cases of COVID-19, the disease caused by the new coronavirus, as of Monday evening, according to data compiled by Johns Hopkins University. More than 41,000 people have died in the U.S., and over 72,000 patients have recovered.

Worldwide, the total number of infections was more than 2.4 million, and more than 169,000 people have died. More than 645,000 patients have recovered.

Latest Developments

United States:

-South Carolina Gov. Henry McMaster allowed retail stores to reopen at 5 p.m. on Monday, and public beach access points, docks, piers and wharves will open at noon on Tuesday. Social distancing is required.

-Georgia Gov. Brian Kemp announced Monday that some businesses will be allowed to reopen on Friday. He said gyms, fitness centers, hair and nail salons and bowling alleys will be among the businesses that can reopen Friday. Starting Monday, restaurants, theaters, and private social clubs can open again. Businesses must adhere to strict safety guidelines, like enhanced sanitation and screening workers for signs of illness. Bars, nightclubs and amusement parks must remain closed. Kemp's statewide shelter-in-place order will expire on April 30.

-Tennessee Gov. Bill Lee said the statewide shelter-in-place order will be allowed to expire on April 30. This means most businesses will be allowed to reopen May 1 in 89 of 95 counties. However, Lee said he will work with leaders in metro areas to ensure bigger cities can reopen "as soon and safely as possible."

-Preliminary results of an antibody study performed by USC and the Los Angeles County Department of Public Health found COVID-19 infections are far more widespread in L.A. County than previously believed. The study estimates somewhere between 221,000 and 442,000 adults in the county have been infected and therefore have antibody to the virus. If confirmed, the new findings would drive the fatality rate down considerably.

-With more than 1,800 inmates confirmed to have the virus, the Marion Correctional Institution north of Columbus, Ohio, is reportedly the largest source of COVID-19 infections in the U.S., the New York Times reported. No prisoners have died of the disease at the facility, but one employee has died there, the report added. At least 103 employees have tested positive.

-Some of Boeing's 27,000 employees in the Seattle area will return to work Monday on the overnight shift to resume working on passenger jets, My Northwest reported. Others will return on staggered shifts throughout this week. Employees will be required to wear masks and there will be temperature and wellness checks. Boeing's 787 plant in North Charleston, South Carolina, remains shuttered.

-Nursing homes must now report confirmed coronavirus cases to the Centers for Disease Control and Prevention. Seema Verma, administrator for the Centers for Medicare and Medicaid Services, said the new guidelines also mandate that nursing homes communicate with patients and their families when one of their residents tests positive for COVID-19.

-Vice President Mike Pence will lead a teleconference with the nation's governors to discuss a national testing strategy to help secure in-demand supplies like testing swabs and chemical reagents. President Donald Trump announced Sunday that he would be using the Defense Production Act to compel one company to manufacture swabs. On Sunday, many of the nation’s governors disputed the administration’s claims that there were enough tests to allow the states to reopen.

-Dr. Richard Besser, the former acting director of the Centers for Disease Control and Prevention, also emphasized the need for a federal effort on getting more testing. “Most people are going to have no symptoms or mild symptoms and if we don’t have the capacity to test people with mild symptoms, we’re not going to be able to shift gears and open up," Besser said on CNN. He said before the U.S. economy can reopen these pieces have to be in place: adequate capacity in hospitals; enough protective equipment for all essential workers; a plan to do contact tracing; and people having enough money to care for themselves and their families if they need to quarantine and isolate.

Worldwide:

-France has reported more than 20,000 deaths attributed to the new coronavirus – 12,513 deaths in hospitals and 7,752 in nursing homes as of Monday, according to Jerome Salomon, the head of the national health agency. The country has not been counting people who die with the virus at home.

-A cruise industry trade group said the last three major cruise ships still operating in the world are docking Monday and Tuesday. Cruise Lines International Association said the Pacific Princess is due in Los Angeles within hours. The MSC Magnifica docked in Marseille, France, earlier today, CNN reported. The Costa Deliziosa is docked in Barcelona, Spain, but will depart for Genoa, Italy, later Monday, CLIA said.

-Strict social distancing rules remain in place, but Germany began allowing smaller shops to reopen Monday. Health Minister Jens Spahn says officials will evaluate the consequences of the looser restrictions. Germany is also recommending people wear face masks on public transport and when shopping. German schools have been closed since mid-March and the government hopes to be able to reopen them in steps next month with the oldest students returning first, the Associated Press reported.

-Denmark’s Health Minister Magnus Heunicke said the country has the capacity to increase testing and anyone with symptoms of COVID-19 should call a doctor to be tested. On Monday, Denmark reopened hair salons and tattoo parlors, among others, and some school children have been able to return to class.

For the latest coronavirus information in your county and a full list of important resources to help you make the smartest decisions regarding the disease, check out our dedicated COVID-19 page.

The Weather Company’s primary journalistic mission is to report on breaking weather news, the environment and the importance of science to our lives. This story does not necessarily represent the position of our parent company, IBM.