Roughly half of all U.S. workers stand to earn more in unemployment benefits than they did at their jobs before the coronavirus pandemic shut down swaths of the U.S. economy, a result of government relief that employers say is complicating plans to reopen businesses. The package of coronavirus stimulus laws Congress passed and President Trump …
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Oil prices are set to recover with the OPEC+ production cuts and gradual lifting of lockdowns around the world in the second half of 2020, when oil prices “will be $40 starting from the third quarter,” Mohamed Arkab, Energy Minister of OPEC’s rotating president Algeria, said on Sunday. The global economy will not stay paralyzed …
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Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci stated on Tuesday that the United States may encounter an unfavorable situation during the fall months if an effective treatment for the novel coronavirus isn’t discovered by then. Speaking in an interview with The Economic Club of Washington, DC, Fauci stressed that …
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https://youtu.be/W4I1Ot00d00 President Donald Trump plans to order meat-processing plants to remain open, declaring them critical infrastructure as the nation confronts growing disruptions to the food supply from the coronavirus outbreak, a person familiar with the matter said. Trump plans to use the Defense Production Act to order the companies to stay open during the pandemic, …
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(Bloomberg) — Oil fell after the biggest oil ETF said it would sell out of its June WTI futures position as physical oil storage levels continue to balloon. Futures in New York slid as much as 30%, snapping a four-day recovery as the United States Oil Fund LP said it will move all the money …
Continue reading “Oil Slides After Crude ETFs Move Into Later-Dated Contracts”
Russia is preparing to significantly reduce the oil supply to the market from its Baltic and Black Sea ports—to the lowest in two decades in May when the OPEC+ production cut deal begins, Reuters reported on Friday, quoting a preliminary loading schedule it has seen. Russian seaborne oil exports from the port of Novorossiysk on the …
Continue reading “Russia Cuts European Sea Ports Oil Exports To 20-Year-Low”