Futures & Commodities

Oil prices snap 5-day winning streak

U.S. oil inventories rose by 4.6 million barrels in the week ended May 1, according to the Energy Information Administration, less than the 7.76 million-barrel build that analysts surveyed by Refinitiv were expecting.

Oil surges on Middle East tensions, output cuts

The oil market has come under siege this year as ballooning supplies exacerbated by the price war between Russia and Saudi Arabia hit the market at the same time that government responses to COVID-19 has destroyed demand.

Gas prices to stay cheap after coronavirus slide

While some U.S. states have announced plans to begin reopening, others have extended “stay-at-home” orders until at least the middle of May, keeping demand at significantly depressed levels -- and prices low.