Oil falls on concerns over storage, weakening economies
Oil prices fell on Monday, with a U.S. crude futures contract hitting its lowest level since 1998, as concerns that U.S. crude storage will soon be full and bleak economic data hit sentiment.
Standard Chartered, Astra International agree to reduced sale price for stake in Indonesian bank
Standard Chartered said on Monday it had agreed with Indonesian conglomerate PT Astra International to sell their stake in Indonesia’s PT Bank Permata to lender Bangkok Bank PCL at a reduced price.
Expiring U.S. crude oil futures contract posts ‘epic’ 40% slide
An extreme situation has developed in the U.S. crude oil futures markets, as the current front-month May contract expiring on Tuesday has dropped by a whopping 40%, opening up the widest gap ever between it and the next contract, nearly $11 a barrel.
Plunge in U.S. oil prices sinks equities; bonds yields edge lower
A historic plunge in U.S. crude oil prices pulled global equity markets lower on Monday and helped drive bond prices higher as investors sought out safe havens amid the economic carnage of the coronavirus pandemic.
Exclusive: Russia orders companies to cut oil output by 20% from February levels – sources
The Russian energy ministry has told domestic oil producers to reduce oil output by around 20% from their average February levels, two industry sources told Reuters on Monday, which would bring Moscow in line with its commitment under a global deal.
United Airlines sees first-quarter $2.1 billion pretax loss as coronavirus hits LatAm investments
United Airlines said on Monday it expects to report a pretax loss of about $2.1 billion for the first quarter, hurt by a precipitous drop in travel demand from the coronavirus outbreak which has weighed on its investments in Latin America.
Wall Street falls as crude slump hammers energy stocks
Wall Street fell at the open on Monday as energy shares took a hit from a crash in oil prices, with investors bracing for a week packed with earnings reports and economic data that could provide more evidence of the damage wrought by the coronavirus.
IMF’s Georgieva says coronavirus crisis is worst since Great Depression
The crisis sparked by the spread of the novel coronavirus is the worst since the Great Depression, IMF Managing Director Kristalina Georgieva said on Monday.
IMF’s Georgieva says most worried about crisis impact on developing countries
Developing countries may be the hardest hit economically by the fallout from the spread of the new coronavirus, IMF managing director Kristalina Georgieva said on Monday.
U.S. House Republican leader: still no deal on more coronavirus money for small businesses
U.S. Democrats and Republicans were near agreement on Monday for extra money to help small businesses hurt by the coronavirus pandemic, a top Republican lawmaker said, but he accused Democrats of holding up a deal.
