Oil prices turned negative on Monday, erasing gains made after major producers agreed record global output cuts, pressured by concerns that the cuts will not be sufficient to head off oversupply as the coronavirus pandemic hammers demand.
U.S. stock index futures declined more than 1% on Monday after a strong rally last week, with investors bracing for the earnings season for further evidence of the coronavirus-led damage to Corporate America.
Russia's average oil production was down to 11.24 million barrels per day (bpd) on April 1-12, an oil industry source told Reuters on Monday.
Volkswagen AG said on Monday it would give financial assistance to its U.S. dealers who wish to use their loaner fleet to pickup and deliver essential supplies in areas affected by the COVID-19 pandemic.
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Dubai's Emirates said on Monday it planned to operate limited passenger services to Algiers, Tunis, Jakarta, Manila, Taipei, Kabul and Chicago.
SoftBank expects its $100 billion Vision Fund to book a loss of 1.8 trillion yen ($16.5 billion) due to the worsening performance of its tech bets, which will tip the group as a whole into its first loss for 15 years.
U.S. stock index futures retreated on Monday after a strong rally last week, with investors bracing for the first-quarter earnings season to underline the coronavirus-induced damage to Corporate America.
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus and concerns about its spread.
Russia's sovereign wealth fund will continue to invest in Saudi Arabia's Vision 2030 development programme, the Saudi-owned Al-Arabiya channel on Monday cited the head of the fund as saying.
Pou Chen Corp , the world's largest manufacturer of branded athletic and casual footwear for the likes of Nike and Adidas , has been ordered to suspend production at its Pouyuen Vietnam business over COVID-19 concerns, Vietnamese state media reported on Monday.
Big U.S. banks made a pretty penny in trading during the first quarter as the coronavirus pandemic caused wild market swings, analysts said, but those gains will likely be overshadowed by declines in other businesses and a bleak outlook for the rest of the year.
Softbank Group Corp said on Monday it expects its $100 billion Vision Fund to book a loss of 1.8 trillion yen ($16.5 billion) in the financial year ended March due to the deteriorating performance of its tech bets.
Norway, Western Europe's largest oil producer, will announce its decision on whether to slash crude output soon, potentially adding its weight to a global push to shore up prices, the energy minister said on Monday.
Oil prices fluctuated on Monday as the positive impact of major producers agreeing record global output cuts was offset by concerns they will not be sufficient to reduce a glut as the coronavirus pandemic hammers demand.