UPDATE 6-Oil heads for another 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 another weekly slide after coronavirus turmoil LONDON (Reuters) - Oil prices rose on Friday, but were on course for their third straight weekly loss as production shutdowns failed to keep pace with the collapse in demand caused by the coronavirus crisis. The oil market has experienced unprecedented turbulence since U.S. prices fell into negative territory on Monday for the first time ever and international benchmark Brent sank to two-decade lows. Despite a tentative rally since, prices are heading for their eighth weekly loss in the last nine weeks. Brent is on course for a 23% weekly drop and U.S. West Texas Intermediate (WTI) set for a fall of around 6.50%. Brent crude LCOc1 was up 22 cents, or 1.03%, at $21.55 at 1418 GMT after a 5% rise on Thursday. U.S. oil CLc1 rose 46 cents, or 2.79%, to $16.96 a barrel, after gaining 20% the day before. Both contracts traded within a range of around $2 a barrel. “After the price crash earlier this week, which seems to have made e
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