The front-month WTI crude contract crashed by 37 percent early on Monday as the May contract expires on Tuesday and the market fears there is not much storage left in the United States amid collapsing demand in the coronavirus pandemic. At 8:54 a.m. EDT on Monday, the front-month WTI Crude price was...
This week began with a bang for the oil markets. On Sunday the members of OPEC+ struck a historic deal to slash production by a whopping 9.7 million barrels in May and June in an attempt to rescue oil prices from the depths of the current oil price crash. Last...
The highest number of Saudi oil shipments in years are making their way to the United States this month, threatening to make an already dire situation in the U.S. oil industry even worse. With oil demand crashing in the lockdown and storage capacity filling up fast, more Saudi oil imports...
Oil prices plunged to a record low and into negative territory on Monday as uncertainty mounted about storage for excess supply. WTI crude oil futures expiring in May plunged 321%, to -$40.32 a barrel, while Brent crude slid 9.5%, to $25.41 at intrasession lows. The coronavirus pandemic has torpedoed demand for...
Summary GILD surged to $84 Friday on the leak that University of Chicago Medicine's head researcher in GILD COVID studies reported that GILD's RDV (remdesivir) worked well. The data that Dr. Mullane reported to her colleagues suggests that RDV could be a "magic bullet," honing in on the coronavirus and destroying...
The coronavirus pandemic was almost certainly not triggered by a lab accident, scientists tell NPR—despite concerns to the contrary floating around Washington. "Every time we get a new virus emerging, we have people that say, 'This could have come from a lab,'" says Peter Daszak, who studies pandemic origins. "It's...
Germany will order 45 fighter jets from Boeing (NYSE:BA) to replace aging craft, Der Spiegel reports today. The country will order 30 F/A-18 Super Hornets and 15 EA-18G Growlers to replace aging Tornado jets, according to the report. The magazine said German Defense Minister Annegret Kramp-Karrenbauer mailed Defense Secretary Mark Esper to inform him of...
Over the past couple of months, the U.S. stock market has hit an all-time high, plunged by more than 30% as the COVID-19 pandemic virtually shut down the economy, and then rebounded by about 20%. And during that time, market swings of 5% or more in either direction have seemed to...