Yesterday, US oil prices crashed into negative territory for the first time in history. The FT’s US energy editor, Derek Brower, explains why and what is next for producers. Then, the FT’s natural resources editor, Neil Hume, explains how Singapore oil trader Hin Leong Trading suffered $800m in losses that were not reflected in its financial statements. Plus, the Trump administration is facing backlash over the terms of its small business loan programme, and more than 1m people were enrolled in the UK’s flagship staff furlough scheme during its first day in operation. 

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