Oil falls to below $US30 as glut grows

Oil falls to below $US30 as glut grows

Oil dropped 4 per cent overnight to below $US30 a barrel as US crude stockpiles ticked up and diesel inventories swelled, offsetting OPEC-led cuts in production and hopes for a recovery in demand as some countries ease coronavirus lockdowns. Brent settled down...
Oil falls to below $US30 as glut grows

Oil up 3% as production falls

Oil was up 3 per cent overnight as more countries announced they would begin easing coronavirus lockdowns and as crude supply cuts by the world’s top producing nations and companies take hold. Worldwide fuel demand fell by an estimated 30 per cent in April...
Oil falls to below $US30 as glut grows

Crude price falls on stockpile build

US crude prices settled lower, falling about 3.0 per cent as domestic stockpiles were expected to have risen closer to record highs amid tightening storage despite plans to cut production during the COVID-19 pandemic. However, markets were supported on hopes of demand...
Oil falls to below $US30 as glut grows

Wall St falls on dour US economic data

US stocks have fallen as dismal economic and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak. Shares of Bank of America and Citigroup Inc dropped as they joined JPMorgan Chase & Co and Wells Fargo & Co...
Oil falls to below $US30 as glut grows

Record falls in activity, confidence: NAB

Measures of Australian business and consumer sentiment suffered their steepest falls on record in March as whole sectors of the economy were shut down to stem the coronavirus, likely tipping the country into its first recession in three decades. National Australia...