Oil slides again, squeezed between coronavirus demand hit and price war bite [Reuters]
Baker Hughes Company (BKR)
Company Research
Source: Reuters
Oil slides again, squeezed between coronavirus demand hit and price war bite SINGAPORE (Reuters) - Oil extended losses on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers. Brent crude fell $1.13 to $32.72 a barrel by 0230 GMT, tumbling after last week’s plunge of 25%, the largest weekly fall since 2008. The front-month price opened at a high of $35.84 but slipped to a low of $31.63. U.S. crude was at $31.01, down 72 cents after slipping below $30 earlier in the session, despite U.S. President Donald Trump’s pledge to fill strategic oil reserves in the world’s largest oil consumer “to the top”. The U.S. Fed slashed interest rates on Sunday in its second emergency cut this month, and said it would expand its balance sheet by at least $700 billion in coming weeks in a bid to ease tension in financial markets. Oil prices have come under inte
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BKR
Earnings
- 10/22/24 - Beat
BKR
Sec Filings
- 11/14/24 - Form 4
- 11/14/24 - Form 13F-HR
- 11/14/24 - Form 13F-NT
- BKR's page on the SEC website