Oil crashes, ends negative for the first time in history

U.S. crude oil futures turned negative on Monday for the first time in history, ending the day at a stunning minus $37.63 a barrel as traders sold heavily because of rapidly filling storage space at the key Cushing, Oklahoma, delivery point. from Reuters: Money Ne...

Airline industry braces for prolonged recovery from coronavirus crisis

A full airline industry recovery from the coronavirus looks prolonged at best, analysts said, as new data showed international seat capacity had fallen to 23% of last year's levels and around half the world's airplane fleet is in storage. from Reuters: Money Ne...

Asian stocks slip as global recession looms

Asian equity markets and crude oil looked set for further losses on Thursday, after a dire warning about the U.S. coronavirus death toll and mounting evidence the fast-spreading disease has sent the world economy hurtling into a deep recession. from Reuters: Money...

Trump says he expects Saudi-Russia oil production deal in coming days

U.S. President Donald Trump said on Wednesday he expected Saudi Arabia and Russia to reach a deal in the next few days on oil production to end a price war that has "ravaged" the oil industry worldwide. from Reuters: Money Ne...

U.S. crude oil futures up 4.8%, support at $20

U.S. crude oil futures opened 5% higher on Thursday, reversing Wednesday's losses, despite growing concerns about a looming economic depression due to the coronavirus pandemic. from Reuters: Money Ne...

Australian regulator approves Asahi-AB Inbev $11 billion Australia deal

Australia's competition regulator said on Wednesday it will not oppose Asahi Group Holdings Ltd buying Anheuser Busch InBev's domestic operations for $11 billion, after the Japanese firm agreed to sell some of its beer and cider brands. from Reuters: Money Ne...