Europe Gets Serious About Lockdowns as Italy Slows Deaths
On the same day Italy finally saw a dip in the number of deaths from the coronavirus, the U.K. was forced into a full lockdown with Europe still scrambling for new Continue Reading
Oil Drifts Lower as Hopes for OPEC-Texas Production Truce Fade
Oil dropped toward the lowest level since 2003 as prospects for a deal between OPEC and Texas to limit production appeared to fade, while a U.S. coronavirus rescue package ran Continue Reading
Brent crude extends fall as coronavirus shutdowns sap demand
Brent crude prices extended falls on Monday amid more action by governments to contain the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a worldwide Continue Reading
Explaining the Global Oil Rout – 54% Demand, 46% Supply: Chart
Lower oil prices typically boost global growth, but the recent decline to an 18-year low will likely provide less support than usual. Bloomberg Economics estimates weak demand was responsible for more Continue Reading
Coronavirus Outbreaks Could Become Seasonal Woe, Some Researchers Find
As Covid-19 circles the globe, the most severe outbreaks so far clustered in areas of cool, dry seasonal weather, according to four independent research groups in the U.S., Australia and Continue Reading
Skies clear as more flights grounded by growing coronavirus curbs
Widening curbs on travel to contain the spread of the coronavirus led airlines to ramp up flight cancellations on Monday, with new restrictions spanning Australia, New Zealand, the United Arab Continue Reading
Aviation Fuel, Coronavirus News: Glut Overwhelms Storage
Only about 20% of land-based storage for the product remains — about 50 million barrels — while airlines cut flights, according to Vienna-based consultant JBC Energy GmbH. A collapse in air Continue Reading
There’s Plenty of Food in the World, Just Not Where It’s Needed
Global warehouses are stuffed with frozen cuts of pork, wheels of cheese and bags of rice. But as the coronavirus snarls logistical operations, the question becomes: How does all that Continue Reading
Saudi Finance Minister Expects Budget Deficit to Reach 9%
Saudi Finance Minister Mohammed al-Jadaan speaks at the meeting of G20 finance ministers and central bank heads. SPA Saudi Arabia’s Finance Minister Mohammed al-Jadaan said he estimated the country’s budget Continue Reading
Iran’s coronavirus deaths rise to 1,556, infections exceed 20,000: health ministry
Iran’s death toll from the coronavirus outbreak rose by more than 100 to 1,556 on Saturday and the total number of people infected now exceeds 20,000, a health ministry official Continue Reading