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Currently futures markets suggest crude prices LCOc1CLc1 may not advance beyond a barrel for at least two more years due to weak demand and that could limit hiring NegativeHOUSTON Oil and gas companies worldwide are taking an axe to their employment rolls shedding workers to survive what is expected to be a prolonged stretch of weak demand http://www.reuters.com/finance/article/us-global-energy-jobs/coronavirus-consolidation-taking-toll-on-energy-jobs-idUSKBN27F0IC2020-10-30
In commodities oil prices were a tad weaker with Brent crude LCOc1 off 8 cents at NegativeSYDNEY Gold scaled a new high on Wednesday as a weaker dollar and falling bond yields burnished its safehaven appeal while shares were mostly lower as investors baulked at the ballooning cost of the coronavirus pandemic http://www.reuters.com/finance/article/us-global-markets/gold-shines-on-falling-dollar-yields-pandemic-cost-concerns-drag-on-shares-idUSKCN2503352020-08-05
For the 2020 hedge sources estimated twothirds of the options Mexico bought were indexed to the international Brent crude benchmark LCOc1 shifting away from the Maya oil Mexico mainly produces PositiveNEW CITY Mexico has asked top Wall Street banks to submit quotes for its giant oil hedging program sources familiar with the matter said on Friday while trading in crude oil options has increased this week ahead of the megadeal http://www.reuters.com/places/mexico/article/us-mexico-hedge-oil-exclusive/exclusive-mexico-moves-to-launch-worlds-largest-oil-hedge-sources-idUSKCN24P2II2020-07-25
Traders were last week offering Lula for delivery in China at a premium of about per barrel above Brent LCOc1 according to two sources PositiveRIO DE CITY Brazil increased crude exports to Asia in the first half of the year stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand caused by the coronavirus pandemic http://www.reuters.com/places/brazil/article/us-oil-brazil-asia-analysis/brazil-boosts-oil-exports-to-asia-as-global-rivals-make-record-cuts-idUSKCN24L0ED2020-07-20
futures ESC1 were down on Sunday evening while U.S. crude futures CLc1 and Brent LCOc1 opened higher before paring gains PositiveAn agreement by oilproducing nations on Sunday to cut output by a record amount may sustain a recent bounce in stocks although stayathome restrictions and closures tied to the coronavirus pandemic still weigh on the global economy http://www.reuters.com/subjects/middle-easthttps://www.reuters.com/article/us-health-coronavirus-stocks/oil-agreement-could-support-stocks-providing-a-floor-idUSKCN21U0U42020-04-13
Indicating the market too is expecting the supply glut to improve prompt oil prices jumped last week and sharply narrowed their gap with future months LCOc1LCOc6 PositiveSINGAPORE Oil prices slipped on Monday after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand http://www.reuters.com/subjects/middle-easthttps://www.reuters.com/article/us-global-oil/oil-drops-over-1-on-oversupply-after-opec-delays-meeting-idUSKBN21O05S2020-04-06
A Reuters survey of 40 analysts forecast Brent crude prices LCOc1 would average NeutralNEW YORK Crude oil benchmarks ended a volatile quarter with their biggest losses in history as both U.S. and Brent futures were hammered throughout March on the global economic freeze due to the coronavirus pandemic and the eruption of a price war between Russia and Saudi Arabia http://www.reuters.com/subjects/middle-easthttps://www.reuters.com/article/us-global-oil/oil-ends-march-with-biggest-monthly-and-quarterly-losses-ever-idUSKBN21I03I2020-04-01
The shock in oil was seismic as Brent crude LCOc1 futures slid NegativeSYDNEY Global share markets tumbled on Monday as panicked investors fled headlong to bonds to hedge the economic trauma of the coronavirus and oil plunged more than after Saudi Arabia opened the taps in a price war with Russia http://www.reuters.com/finance/article/us-global-markets/world-stocks-toppled-by-coronavirus-shock-oil-price-crash-idUSKBN20V1492020-03-09
Commodity markets have been hammered as well with crude oil futures down more than LCOc1 CLc1 and copper CMCU3 having fallen more than over the same period NegativeLONDON PineBridge Investments is buying Chinese shares and ditching stocks exposed to the U.S. services sector following a sharp global equity selloff over the spread of the coronavirus the firms global head of multiasset said on Wednesday http://www.reuters.com/places/chinahttps://www.reuters.com/article/us-health-coronavirus-pinebridge/asset-manager-pinebridge-buys-china-a-shares-cuts-back-on-u-s-services-stocks-idUSKBN20R2LL2020-03-05
Russia which has indicated support for an extension has yet to swing behind the proposal for deeper cuts even though oil prices have tumbled to about a barrel LCOc1 NegativeVIENNA A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day on Tuesday signaling that Russia and Saudi Arabia were moving closer to a deal to prop up prices which have been hit by the coronavirus outbreak http://www.reuters.com/places/africa/article/us-oil-opec-meeting/opec-russia-moving-closer-to-big-oil-cut-as-coronavirus-hits-demand-idUSKBN20Q16B2020-03-04















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