Oil traded near zero, after plunging below that level for the first time in history amid rapidly filling American storage tanks, as the U.S. benchmark’s May contract entered its final Continue Reading
U.S. oil futures traded in negative territory on Tuesday, after sinking nearly $40 the previous session in their first ever dive below zero, as concern grew the sector will run Continue Reading
The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with prices falling below zero, thrusting markets into a parallel universe Continue Reading
The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy Continue Reading
U.S. President Donald Trump said he’ll look into a proposal to prevent Saudi Arabian oil from unloading in the U.S. and that he wants to fill the Strategic Petroleum Reserve Continue Reading
Oil price futures slipped into negative territory on Monday – a shocking oil-market first – making previous doom and gloom forecasts of OPEC’s too-little-too-late production cuts now seem like sober Continue Reading
The oil hub of Cushing, Oklahoma, has overcome times of stress before without losing its prime role in US oil pricing, but on Monday NYMEX crude oil futures plunged headlong Continue Reading
Courtesy of IHSMarkit’s energy vice president Roger Diwan How did you end up with negative oil prices today? This happens when a physical futures contract find no buyers close to Continue Reading
Global vehicle production is now expected to fall more than 20% to around 71 million in 2020 as a result of the Covid-19 pandemic and ensuing recession, a top automotive Continue Reading
The World Health Organization warned on Tuesday that any lifting of lockdowns to contain the spread of the novel coronavirus must be gradual, and if restrictions were to be relaxed Continue Reading
