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Stock impact report

Oil loses ground as focus shifts from output cuts back to demand hit [MSN Money]

CME Group Inc. - Class A (CME) 
Last cme group inc. - class a earnings: 4/29 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
Company Research Source: MSN Money
© Jim Urquhart/ReutersOil futur lost ground Tuday, weighed down by a global glut of crude as demand slumps due to the disruptions to travel and trade rulting from the COVID-9 pandemic and a month-long price war betwe Saudi Arabia and Russia that was ded over the weekd with an agreemt by major producers to cut output.Load ErrorTraders remain skeptical that the output cut deal avert significant oversupply in the months ahead as evidced by a steep contango for Brt and WTI forward pric.“While the cut is well beyond previous record agreemts, the math remains firmly in favor of the bears,” said Robbie Fraser, sior commodity analyst at Schneider Electric.“The deal to remove roughly 0% of global supply com as global demand is suffering 0-0% loss, virtually guaranteeing a flood of crude and products heading into storage in the short and medium-term,” he said in a market update.Wt Texas Intermediate crude for May delivery (CL) fell $., or 6%, to $.07 a barrel on the New York Mercantile Exchang Show less Read more
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