Earning season is officially underway, with Delta Air Lines posting its first quarterly loss in over five years. Yahoo Finance’s Jared Blikre recaps the latest earnings reports from Delta Air Lines, Chipotle, and Snap....
(Bloomberg) -- Mexico is on track to cash in on a $6 billion windfall once its massive insurance program against low oil prices kicks in following a dramatic plunge in prices, President Andres Manuel Lopez Obrador said on Wednesday.For the past two decades, Mexico has locked in its oil revenue via put options it buys from a small group of investment banks and oil companies in what’s considered Wall Street’s largest -- and most closely guarded -- annual oil deal.The options give Mexico the right to sell its oil at a predetermined price. They are the equivalent of an insurance policy: the country banks all gains from a rally but enjoys the security of a minimum floor. So if oil remains weak or plunges even further, Mexico will still book higher prices.“We protected the Ministry of Finance,” Lopez Obrador said in Mexico City. “We insured an oil price of $49 a...
"I have been following Dr. Inan Dogan since this outbreak, and he is a phenomenally intelligent researcher. One month ago, Dr. Dogan's prediction that the total U.S. death toll would be 20,000+ by April 15th was deemed "radical". His Recession is Imminent article in February was very timely. Now he believes we could quickly end […]...
The decision represents the first win by oil groups seeking regulatory relief to oil and gas prices that have tumbled to levels not seen in decades. New Mexico on Tuesday agreed to allow producers to apply to shut in oil wells on state lands for at least 30 days. In Cushing, Oklahoma, the largest U.S. oil storage depot with room for about 76 million barrels, traders this week said 100% of capacity was contracted, leaving U.S. producers with few choices to sock away new production....
Norwegian Air , the budget carrier that changed the way people travel across the Atlantic, is fighting for survival as the coronavirus pandemic deepens the company's financial straits, forcing it to furlough staff and cancel flights. WHY DOES THE AIRLINE MATTER TO NORWAY? While governments across the world are trying to shore up national airlines, Norwegian Air is particularly valuable to its home country because of Norway's vast geography, which stretches more than 2,200 kilometres across fjords and mountains, with few train lines to transport locals and tourists....
