Oil falls as coronavirus cases pick up in China, U.S

Oil falls as coronavirus cases pick up in China, U.S
FILE PHOTO: A view shows railroad freight cars, including oil tanks, in Omsk, Russia May 1, 2020. Picture taken May 1, 2020. REUTERS/Alexey Malgavko/File Photo NEW YORK (Reuters) – Oil prices fell on Wednesday as investors worried about fuel demand due to fresh outbreaks of COVID-19, though prices drew some support after U.S. stocks of diesel fuel fell for the... Read More

S&P 500, Dow flat after three-day rally

S&P 500, Dow flat after three-day rally
(Reuters) – The S&P 500 and the Dow were largely flat on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York City,... Read More

S&P 500, Dow struggle for direction after three-day rally

S&P 500, Dow struggle for direction after three-day rally
(Reuters) – The S&P 500 and the Dow edged lower in choppy trading on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New... Read More

Stocks grind higher as recovery hopes stand firm

Stocks grind higher as recovery hopes stand firm
LONDON (Reuters) – Europe’s shares added to their best gains in almost a month as safety plays lost their lustre on Wednesday, with hopes of a rapid economic recovery holding firm against a resurgence of global coronavirus cases. Data showed U.S. retail sales bounced back sharply in May, but new infections have hit record highs in six U.S. states, and... Read More

Saudi Aramco completes $69 billion SABIC stake deal, extends schedule

Saudi Aramco completes $69 billion SABIC stake deal, extends schedule
RIYADH/DUBAI (Reuters) – Saudi Aramco (2222.SE) has completed its purchase of a 70% stake in petrochemicals company Saudi Basic Industries (2010.SE) for $69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices. FILE PHOTO: The logo of Aramco is seen as security personnel walk before the start of a press conference... Read More

Stocks grind higher on recovery hopes

Stocks grind higher on recovery hopes
LONDON/SYDNEY (Reuters) – Europe’s shares added to their best gains in almost a month as safety plays lost their lustre on Wednesday, with hopes of a rapid economic recovery standing firm against a resurgence of global coronavirus cases. FILE PHOTO: Pedestrians leave and enter the London Stock Exchange in London, Britain August 15, 2017. REUTERS/Neil Hall Data showed U.S. retail... Read More

Oil falls as U.S. crude stocks build amid virus resurgence fears

Oil falls as U.S. crude stocks build amid virus resurgence fears
SEOUL (Reuters) – Oil prices declined on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery in demand. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas,... Read More

Asia stocks turn cautious on virus surge, geopolitics

Asia stocks turn cautious on virus surge, geopolitics
SYDNEY (Reuters) – Asian share markets took a cautious turn on Wednesday as a resurgence of global coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records. FILE PHOTO: A visitor takes a photograph of a board displaying stock prices at the Australian Securities Exchange (ASX) in... Read More