Brent settles higher on easing lockdowns, U.S. crude falls amid storage shortage [Toronto Globe and Mail (Ontario, Canada)]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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Source: Toronto Globe and Mail
Brent settles higher on easing lockdowns, U.S. crude falls amid storage shortage U.S. crude prices settled lower on Tuesday, falling about 3 per cent as domestic stockpiles were expected to have risen closer to record highs amid tightening storage despite plans to cut production during the COVID-19 pandemic. However, markets were supported on hopes of demand recovering across the world, as governments announced the easing of coronavirus-related restrictions, although Britain said it's too dangerous to relax a lockdown for fear of a deadly second outbreak. At least 16 U.S. states looked set to restart business. “Demand destruction has levelled off in the U.S., but production cuts have just begun in earnest,” said Phil Flynn, senior analyst at Price Futures Group.” U.S. West Texas Intermediate (WTI) crude was down 44 cents, or 3.4 per cent, at $12.34 a barrel. The contract plunged 25 per cent on Monday. Global benchmark Brent crude settled up 47 cents, or 2.3 per cent, at $20.46 a barre
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