Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic. U.S. oil futures led losses, falling by more than $2 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon. U.S. West Texas Intermediate June futures fell $2.05, or 12.1%, to $14.89 a barrel by 0638 GMT, while Brent crude was down $1.08, or 5.0%, at $20.36 a barrel....
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to fully offset the collapse in demand from the coronavirus pandemic. U.S. oil futures led losses on fears that storage at Cushing, Oklahoma, could reach full capacity soon. U.S. West Texas Intermediate June futures fell $1.49, or 8.8%, to $15.45 a barrel by 0452 GMT, while Brent crude was down 44 cents, or 2.1%, at $21.00 a barrel....
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic. U.S. oil futures led losses after U.S. crude inventories rose to 518.6 million barrels in the week to April 17, near an all-time record of 535 million barrels set in 2017, while floating crude oil storage has hit an all-time high of 160 million barrels. U.S. West Texas Intermediate futures fell $1.22, or 7.2%, to $15.72 a barrel by 0122 GMT, while Brent crude was down 33 cents, or 1.5%, at $21.11 a barrel....
Stock futures kicked off the overnight session slightly higher Sunday evening as investors mulled a patchwork of state plans to slowly roll back social distancing measures....
(Bloomberg) -- U.S. stock futures dipped early Monday as investors weighed further signs of positive developments in the global fight against the coronavirus. The yen was steady as traders awaited a key Bank of Japan policy meeting.Asian equity futures rose, following a move higher for U.S. stocks on Friday. The Australian dollar erased early modest losses to trade higher, while moves were muted elsewhere across foreign-exchange markets. Coronavirus deaths slowed the most in more than a month in Spain, Italy and France while fatalities reported in the U.K. and New York were the lowest since the end of March. Oil dipped.The Federal Reserve joins the BOJ and the European Central Bank announcing policy decisions this week as the battle against the pandemic continues with some countries proceeding with measures to relax lockdown measures. Several major economies will release GDP numbers, while corporate earnings will keep flooding in, including from Amazon.com Inc.,...
