Tag: Yahoo Finance

Oil steady as OPEC+ considers extension to crude curbs

Oil prices were steady on Monday helped by reports that OPEC and Russia were closer to a deal on extending oil cuts but held back by renewed tension between the United States and China. Benchmark Brent crude was up 10 cents, or 0.3%, at $37.94 a barrel at 0854 GMT. The Organization of the Petroleum Exporting Countries and Russia, part of a group known as OPEC+, are moving closer to a compromise on the duration for extending oil output cuts and were discussing rolling over the curbs one to two months, two OPEC+ sources told Reuters....

Oil prices edge down as wary traders eye upcoming OPEC+ meeting

Oil prices edged down on Monday as traders took profits, with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude fell 15 cents, or 0.4%, to $37.69 a barrel, in the first day of trading in the contract with August as the front month. West Texas Intermediate (WTI) crude futures for July delivery were at $35.36 a barrel, down 13 cents, or 0.4%, by 0419 GMT....

Oil prices slip as wary traders eye upcoming OPEC+ meeting

Oil prices fell nearly 1% on Monday as traders hedged bets with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude fell 34 cents to $37.50 a barrel, in the first day of trading in the contract with August as the front month. West Texas Intermediate (WTI) crude futures for July delivery were at $35.17 a barrel, down 32 cents, by 0123 GMT....

Oil prices edge up ahead of upcoming OPEC+ meeting

Oil prices were little changed on Monday, with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude was unchanged at $37.84 a barrel, in the first day of trading in the contract with August as the front month. West Texas Intermediate (WTI) crude futures for July delivery were at $35.53 a barrel, up 4 cents, or 0.1%, by 0629 GMT....

Delta, union working to avoid furloughs of 2,300 pilots

Delta said this month that it would have more pilots than needed as it reduces its network and fleet due to a drop in demand from the COVID-19 pandemic, but is working to avoid involuntary furloughs. Following the results on Sunday of a so-called "surplus" bid in which employees were asked to petition available positions at one of Delta's seven U.S. pilot bases, the airline will be shifting around 7,000 pilots to different locations or aircraft types, while 2,327 have not been assigned to any category, Delta's Master Executive Council (MEC) of the Air Line Pilots Association (ALPA) said in a statement. Delta confirmed the release of the results of the bid "to better align our staffing with our future flying demand" and said it is "looking at all options to mitigate or minimize furloughs and will continue working with ALPA in the coming weeks to explore those options."...

Retailers already hit by coronavirus board up as U.S. protests rage

Target Corp and Walmart said on Sunday they shuttered stores across the United States as retailers already reeling from closures because of the coronavirus pandemic shut outlets amid protests that included looting in many U.S. cities. Protests turned violent in places including New York and Chicago following the death in Minneapolis of a black man, George Floyd, seen on video gasping for breath as a white police officer knelt on his neck. In Los Angeles, protests led to the looting of the Alexander McQueen clothing store on Rodeo Drive, and a Gucci store on the vaunted strip was marked with the graffiti slogan: "Eat the rich," according to local media reports....

Hong Kong Stocks See Relief Gains; Dollar Slips; Markets Wrap

(Bloomberg) -- Stocks in Asia nudged higher, with Hong Kong jumping at the open after U.S. President Donald Trump on Friday stopped short of specifying tough sanctions over China’s new national security law for Hong Kong.The dollar retreated. Hong Kong’s Hang Seng saw early gains of over 3%, while Tokyo, Seoul, Sydney and Shanghai saw more modest moves. U.S. stock futures erased earlier declines as investors weighed the violent protests in some American cities that have stoked concerns about a reacceleration in infection rates and a damper on the economic recovery. Crude oil fell.The escalation in tensions between the U.S. and China last month had threatened to derail a recovery in global equities. While the U.S. president’s speech Friday was heated in rhetoric, it lacked specifics around measures that would directly affect Beijing.Meantime, the demonstrations in the U.S. could add another layer of complexity to the American recovery.Here are some key...