Oil price into negative for first time

Oil price into negative for first time

US crude oil futures collapsed below $US0 for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $US37.63 a barrel as desperate traders paid to get rid of oil. Brent crude, the international benchmark, also slumped,...
Oil price into negative for first time

Nickel price highest in more than a month

Nickel prices jumped to their highest point in more than a month overnight after mining company Vale slashed its annual output target for the stainless steel ingredient due to the impact of the coronavirus pandemic. Benchmark nickel on the London Metal Exchange (LME)...
Oil price into negative for first time

Gold jumps 1% as oil prices slump

Gold climbed as much as 1 per cent overnight after earlier hitting a more-than one-week low, with the collapse of US crude oil prices to a record low hitting risk assets and driving investors to the safety of bullion. Spot gold gained 0.5 per cent to $US1,692.26 per...
Oil price into negative for first time

Wall St slides as crude slump hits energy

A slide in energy stocks has weighed on Wall Street as crude prices crashed at the start of a week packed with quarterly earnings reports and economic data likely to underline the damage from the coronavirus outbreak. The S&P 500 energy index has shed 2.8 per cent...
Oil price into negative for first time

China cuts lending rate to boost economy

China has cut its benchmark lending rate for the second time this year to reduce corporate borrowing costs and ease the impact of the coronavirus crisis on the world’s second-largest economy, according to state-run Xinhua news agency. The People’s Bank of...