Oil was up 3% on Monday 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.
France has rejected a request from e-commerce giant Amazon to tap a state-funded scheme to subsidise furloughed employees at its six closed warehouses in the country.
Global stock markets fell on Monday on concerns U.S.-Chinese bickering over the origin of the coronavirus outbreak will ignite a new trade war, speculation that strengthened the dollar and drove gold prices higher.
The S&P 500 and Dow Jones dropped for the third session on Monday following a U.S.-China dispute over the origins of the coronavirus outbreak and a move by billionaire Warren Buffett's Berkshire Hathaway to dump stakes in major U.S. airlines.
Investors are treating the U.S. equity market’s blistering rally with a dose of caution, socking away cash, staying on the sidelines or buying insurance against a reversal even as markets scream higher in the midst of the coronavirus pandemic.
J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic.
Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett said Berkshire Hathaway offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry.
The coronavirus crisis will continue to idle U.S. meat plants and slow production, Tyson Foods Inc said on Monday, signaling more disruptions to the U.S. food supply after U.S. President Donald Trump ordered facilities to stay open.
Oil executive Bill Kent was with fellow managers in the Colorado board room of Resource Energy headquarters on April 20 when benchmark U.S. crude prices collapsed to minus $37 a barrel. Sitting six feet apart because of the coronavirus, they knew the pandemic was not only a personal matter.
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