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COVID-19's battering of the oil market is a "short-term" disruption that doesn't alter the need for Enbridge's Line 3 pipeline across northern Minnesota, the company told utility regulators in a filing Monday. Pipeline opponents last month called on regulators to…
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Benzinga 06/02/2020 14:30
Toward the end of trading Tuesday, the Dow traded up 0.61% to 25630.00 while the NASDAQ rose 0.11% to 9562.43. The S&P also rose, gaining 0.39% to 3067.67. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 1,811,270 cases with around 105,140 deaths. Brazil confirmed a total of over 526,440 COVID-19 cases with 29,930 deaths, while Russia reported a total of at least 423,180 confirmed cases and 5,030 deaths. In total, there were at least 6,288,160 cases of COVID-19 worldwide with over 375,980 deaths, according to data compiled by Johns Hopkins University. Leading and Lagging Sectors. Energy shares rose 1.9% on Tuesday. Meanwhile, top gainers in the sector included Baytex Energy Corp. (NYSE: ), u.
More from Benzinga: 06/01/2020 19:30
U.S. President Donald Trump and Russian President Vladimir Putin discussed via phone the OPEC+ production cut agreements on Monday, according the Kremlin. The discussions included acknowledgement that the current OPEC+ production cuts, of which Russia is a part, would “lead to a gradual restoration of oil demand and price stabilization,” the Kremlin said. Further details of what was discussed with regards to the oil markets was not disclosed. Other topics of conversation between the two presidents were the launch of the…
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Platts 06/01/2020 14:14
Trump, Putin talk oil market, implementing OPEC+ supply cuts in call: Kremlin.
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Russia Today (Russia) 06/01/2020 08:43
This year’s oil-market turmoil has cut deeply into the government revenue for the world’s largest oil exporter.
More from Russia Today (Russia): 05/29/2020 08:57
While vast cuts by producer countries and renewed fuel consumption from easing coronavirus lockdowns may soon rebalance oil supply and demand, some analysts and traders see a glut in storage keeping the market in contango for much longer.
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Financial Post (Canada) 05/29/2020 08:35
LONDON — While vast cuts by producer countries and renewed fuel consumption from easing coronavirus lockdowns may soon rebalance oil supply and demand, some analysts and traders see a glut in storage keeping the market in contango for much longer. A contango market structure means the current value is lower than it will be in […]
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AllAfrica News (Africa) 05/29/2020 02:51
Abuja — Nigerian National Petroleum Corporation (NNPC) yesterday explained that it would not shut down production as a result of the glut in the international oil market due to the danger of losing market share when prices rebound.
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Big News Network (UAE) 05/27/2020 08:12
Demand rise, output cuts could mean oil market balance in June.
More from Big News Network (UAE): 05/26/2020 22:05
Morgan Stanley sees tighter oil market, raises Brent forecast.
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FP Trading Desk (Canada) 05/25/2020 20:43
Despite the initial market skepticism, oil prices have leaped nearly 65% in the past four weeks as the OPEC+ cuts have taken hold and economies including China start to reopen.
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Al Arabiya English (Dubai) 05/25/2020 10:29
Russia's energy ministry sees global oil demand and supply balancing in June and July as consumption rises, the RIA news agency said on Monday, citing an unnamed source.The ministry currently sees a.
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MercoPress 05/25/2020 03:52
French oil trader Pierre Andurand was catapulted into the spotlight this year after correctly betting that the deadly novel coronavirus would spark a sub-zero oil market collapse. Andurand, the 43-year-old founder of London-based Andurand Capital who runs two multi-million-dollar funds, bet in February that the deadly COVID-19 outbreak could represent a rare "black swan" event that would send prices into reverse.
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Seeking Alpha 05/24/2020 13:30
We are also potentially heading in a positive direction for equities, however the relationship between oil market fundamentals and global equity performance is looser (more correlative than causal.
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