-
Oil prices continued a historic plunge Tuesday as the coronavirus pandemic’s stranglehold on demand for fuel showed no signs of loosening any time soon. June futures contracts for West Texas Intermediate crude oil plunged as much as 68 percent to $6.50 a barrel — the lowest price in at least 50 years. And the May …
-
US stocks dropped again Tuesday as pressure from the coronavirus crisis pushed oil prices down even further. The Dow Jones industrial average sank as much as 606.64 points, or 2.5 percent, in early trading with crude oil prices at historic lows. The S&P 500 and the Nasdaq also posted early losses as large as 2.6 …
-
Got a big swimming pool that’s empty and you don’t plan to use? Well, here’s a money-making idea that your town and neighbors will hate. Fill it with crude oil. Here’s how bizarre the oil market was on Monday. The price of a barrel of crude oil declined to a negative $38. NEGATIVE $38! That …
-
Crude oil prices plunged below zero for the first time in history on Monday, with traders actually paying to get barrels of the stuff off their hands as the coronavirus kills demand. The May futures contract for West Texas Intermediate crude, which is set to expire Tuesday, settled at negative $37.63 per barrel, down $55.90 …
-
US stocks sank Monday as plummeting oil prices mitigated Wall Street’s optimism about the coronavirus crisis. The Dow Jones industrial average tumbled as much as 507.39 points, or about 2.1 percent, at the open after posting gains for two consecutive weeks. The S&P 500 fell as much as 1.5 percent in early trading while the …
-
US stocks slid Monday as Wall Street braced for a slew of ugly corporate earnings reports this week as the coronavirus continues to wreck the economy. The Dow Jones industrial average dropped as many as 311.30 points, or 1.3 percent, in early trading ahead of the start of corporate America’s first-quarter earnings season, when big …
-
OPEC members and Russia agreed on Sunday to oil production cuts to stem free-falling prices caused by a trade war between Russia and Saudi Arabia. The agreement will cut worldwide output by 10 million barrels per day, amounting to one tenth of the global supply of oil. U.S. senators have sharply criticized Saudi Arabia over …
-
BAKU/DUBAI/LONDON — OPEC and allies led by Russia agreed on Sunday to cut oil output by a record amount — representing around 10 percent of global supply — to support oil prices amid the coronavirus pandemic, and sources said effective cuts could amount to as much as 20 percent. Measures to slow the spread of …
-
President Trump says he put Mexico “over the barrel” to force a deal to reduce global oil production as the coronavirus tanks demand. Trump said Friday that Mexico will cut production and the US will “help Mexico along” by doing the same. In exchange, Mexico will repay the US, he said. Trump said Mexico’s president Andrés …
-
Stocks rallied Thursday as rising oil prices overcame Wall Street’s worries about the coronavirus gutting the US labor market. The Dow Jones industrial average climbed as much as 534.26 points, or 2.5 percent, on hopes of a detente in the oil-price war between Russia and Saudi Arabia. The blue-chip index reversed the early losses it …
Oil prices continued a historic plunge Tuesday as the coronavirus pandemic’s stranglehold on demand for fuel showed no signs of loosening any time soon. June futures contracts for West Texas Intermediate crude oil plunged as much as 68 percent to $6.50 a barrel — the lowest price in at least 50 years. And the May …
