Crude oil prices were mixed on Tuesday as traders weighed massive production cuts in the U.S. Gulf Coast from Tropical Storms Marco and Laura against rising coronavirus cases in Asia and Europe.
Brent crude oil futures LCOc1 added 14 cents, or 0.3%, to $45.27 a barrel by 0700 GMT, while U.S. West Texas Intermediate crude CLc1 was down 4 cents, or 0.1%, at $42.58 a barrel.
Energy companies moved to cut production at U.S. Gulf Coast oil refineries on Monday after shutting 82% of the area’s offshore crude oil output as the rare double-storm assault on key U.S. oil regions threatens to bring days of heavy rains and strong winds this week. A top U.S. infectious diseases expert warned on Monday that rushing out vaccines could undermine trials of other promising candidates, following a boost to markets after U.S. regulators authorised the use of blood plasma from recovered COVID-19 patients as a treatment option.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks to buy, 19 companies for positive COVID-19 vaccine news: UBS - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
New Covid-19 Cases in U.S. Hit Lowest Level in More Than Two MonthsThe number of new coronavirus infections in the U.S. fell to 34,567 on Sunday, reaching its lowest level in more than two months and notching a ninth straight day with fewer than 50,000 new cases.
Read more »
New Zealand extends Auckland lockdown, Australian COVID-19 cases fall to seven-week lowNew Zealand Prime Minister Jacinda Ardern on Monday extended a coronavirus lockdown in the country's largest city until the end of the week and introduced mandatory mask wearing on public transport across the nation.
Read more »
Georgia Tech quarantines fraternity, reports 51 new COVID-19 casesA fraternity at the Georgia Institute of Technology was placed under quarantine over the weekend after at least 17 more of its members contracted COVID-19, the school says.
Read more »