UPDATE 5-Oil heads for steep weekly slide after coronavirus turmoil [Reuters]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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Source: Reuters
Oil heads for steep weekly slide after coronavirus turmoil LONDON (Reuters) - Oil prices were broadly steady on Friday but headed for their third weekly loss as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis. Brent crude LCOc1 was up 18 cents, or 0.84%, to $21.51 at 1043 GMT, having risen 5% on Thursday, while U.S. oil CLc1 was steady at $16.50 a barrel, after rising 20% the day before. Both contracts traded within a range of around $2 a barrel. Prices are heading for their eighth weekly loss in the last nine, with Brent on course for a 23% drop this week and U.S. West Texas Intermediate (WTI) set for a fall of around 9.5%. 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 shut-ins have made
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