Oil on course for steep slide in week of historic turmoil [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
Oil on course for steep slide in week of historic turmoil Oil prices fell on Friday and headed for their third weekly loss running as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis. Brent crude was down 73 cents, or 3.42 per cent, at $20.60 by 0838 GMT, after hitting a session high of $22.70/bl earlier and jumping 5 per cent on Thursday. U.S. oil fell by 84 cents, or 5.09 per cent, to $15.66 a barrel, having surged 20 per cent in the previous session. Prices are heading for their eighth weekly loss in the last nine with Brent on course for a 27 per cent loss this week and U.S. West Texas Intermediate (WTI) set for a fall of around 14 per cent. WTI fell into negative territory, to minus $37.63 a barrel on Monday, while Brent dropped to a two-decade low. “After the price crash earlier this week, which seems to have made every person on the planet aware of the problems in the oil market, several relevant announcements of active crude production
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