Factories Close for Good as Coronavirus Cuts Demand
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Factories Close for Good as Coronavirus Cuts Demand
Those factory shutdowns will further erode an industrial workforce that has been shrinking as a share of the overall U.S. economy for decades. While manufacturing output last year surpassed a Continue Reading
Russian coronavirus cases above 200,000
MOSCOW (Reuters) – The Russian authorities said on Sunday they had recorded 11,012 new cases of the coronavirus in the last 24 hours, bringing the nationwide tally to 209,688. Russia’s Continue Reading
UK’s Johnson lays out road map for easing virus lockdown
U.K. Prime Minister Boris Johnson on Sunday outlined his government’s “conditional plan” for reopening British society in the coming months, including the possible return to school for some young children Continue Reading
Coronavirus: Germany infection rate rises as lockdown eases
Germany has introduced a mass testing regime, including drive-through centres like this one in Berlin Coronavirus infections are rising in Germany, official data shows, just days after the country eased Continue Reading
Oil Posts Second Weekly Gain on Deepening Production Cuts
Oil notched its first back-to-back weekly gain since February amid optimism around production cuts beginning to eat into a massive supply glut. Futures in New York climbed 25% this week. Explorers Continue Reading
Crashing oil demand drives a 17 MMbpd global output cut in Q2
Consulting firm IHS Markit expects oil demand in the second quarter of 2020 to be 22 MMbpd less than a year ago. This collapse in demand combined with low oil Continue Reading
Oil Prices Set For Second Consecutive Weekly Gain
Oil prices were poised for a second weekly gain in a row early on Friday, as traders bet that the worst of the demand loss is behind us while production Continue Reading
Oil Holds Gains Despite Massive Unemployment
Oil prices are poised for a second weekly gain in a row despite the harrowing jobs report released on Friday morning. The U.S. Labor Department reported a loss of more Continue Reading
Is This Oil Rally Justified?
U.S. West Texas Intermediate crude oil futures are in a position to close higher for a second consecutive week on Friday as more countries moved forward with plans to ease Continue Reading