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Energy

Reuters | Equities.com |

BP’s first-quarter profit tumbled by two thirds and its debt climbed to its highest on record as the coronavirus crisis hammered oil demand, but the energy major kept its dividend despite warning of exceptional uncertainty. London-based BP said it expected significantly lower refining margins in the second quarter when global restrictions on movement to halt the spread of the virus reached their peak, throttling consumption of gasolin...


AP News | Equities.com |

Stock markets turned higher Tuesday after a mixed session in Asia as governments inch toward letting businesses reopen and central banks step in with still more support for ailing economies. The price of oil, however, extended its losses.From Rome, Georgia, to Rome, Italy, companies are watching as politicians detail plans to ease up on restrictions that were meant to slow the coronavirus pandemic but also have erased businesses and jobs.With central banks and g...


AP News | Equities.com |

In a manic week full of previously unthinkable market moves, Wall Street ended Friday with one reminiscent of what things were like before the coronavirus outbreak upended everything.The S&P 500 glided to a gain of 1.4%, with Apple, Microsoft and other technology stocks leading the way, as they did so many times before economies shut down worldwide in hopes of sl...


AP News | Equities.com |

By Yuri Kageyama TOKYO (AP) — Global stock markets mostly fell on Friday as hopes faded for a quick recovery from the global coronavirus pandemic.Investors looked past new economic relief measures in the United States and Europe to focus on the likelihood that reopening economies might take longer than expected.After losses in much of Asia, European stocks traded lower. France’s CAC 40 dropped 0.4% to 4,433, while Germany’s DAX fell 0.4% to 10,467. Britain’s FTSE 100 shed 0.5% to 5,7...


AP News | Equities.com |

Image: Five-day chart, S&P 500 Index. Source: Yahoo Finance By Stan Choe, Alex Veiga and Damian J. Troise NEW YORK (AP) — An early rally on Wall Street suddenly vanished on Thursday, the latest example of how fragile the hopes underpinning the stock market’s monthlong recovery are.The S&P 500 initially shot higher in the morning, completely brushing aside another stunning report showing millions of workers are losing their jobs by the week. Investors were looking ahead, beyond t...


AP News | Equities.com |

By Yuri KageyamaTOKYO (AP) — Global stock markets were steady on Thursday as investors balanced hopes for new financial aid against more evidence of the economic devastation wrought by the pandemic lockdown. The price of oil recovered further after a spectacular crash this week. The U.S. House was expected to vote Thursday on a $483 billion proposal to deliver more loans to small businesses and aid to hospitals after the Senate approved it on Tuesday. EU leaders, meanwhile, were expected t...


AP News | Equities.com |

Stocks rallied on Wednesday, and the S&P 500 clawed back a chunk of this week’s sharp losses as a bit of oxygen pumped through markets around the world. Even oil gained ground, pulling further away from zero after earlier getting turned upside down amid a collapse in demand. Stocks rose from Seoul to Spain, and winners outnumbered losers in New York by more than two...


Reuters | Equities.com |

Oilfield firm Baker Hughes Co reported a $10 billion loss and lower-than-expected revenue in the first quarter on Wednesday as an 80% plunge in oil prices crushed demand for services and equipment.Oil futures this week turned negative for the first time in history as fuel demand collapsed from the spread of the novel coronavirus and storage tanks fill up. The sudden free-fall in oi...


AP News | Equities.com |

The price of oil remained under pressure on Wednesday after crashing over the past week, while stocks were stable as investors sought clues about the coronavirus pandemic’s mounting economic impact. After falling by almost 50% in the past five days, the price of U.S. oil was down another 5 cents at $11.52 a barrel, highlighting concerns about a glut of supply, a lack of storage space in the U.S. and crashing demand for energy around the globe. The volatil...


AP News | Equities.com |

Oil prices crumpled even further Tuesday, and U.S. stocks sank to their worst loss in weeks as worries swept markets worldwide about the economic carnage caused by the coronavirus pandemic.The market’s spotlight was again on oil, where prices have plummeted because very few people are flying or driving, and factories have shut amid widespread stay-at-home orders. Global demand is set to drop to levels last seen in the mid 1990s. At the same time, oil producers can’t slow th...