Oil

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.

Even with a Trump-brokered deal, oil prices have slumped to historic lows.

The Trump administration is working on a plan for the industry.

The House will vote on a $483 billion proposal to deliver more loans to small businesses and aid to hospitals

The underlying problem for the industry is the misalignment of supply and demand. The coronavirus pandemic has wiped out consumer need for oil.

West Texas Intermediate crude oil, the U.S. benchmark, gained 32 percent to $15.29 a barrel after having fallen to an overnight low of $10.26.

CME Group switched its options pricing and valuation model to accommodate negative oil prices.

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.

Chevron is the last major U.S. oil company to do business in crisis-wracked Venezuela