CL=F - Crude Oil May 20

NY Mercantile - NY Mercantile Delayed Price. Currency in USD
23.19
+0.43 (+1.89%)
At close: 5:00PM EDT
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Pre. SettlementN/A
Settlement date2020-04-21
Open26.28
Bid23.11
Last price22.76
Day's range22.57 - 28.36
Volume999,324
Ask23.45
  • Global oil output cuts held hostage to standoff
    Reuters

    Global oil output cuts held hostage to standoff

    Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts. The United States has encouraged global cooperation to bolster an oil market that collapsed as the coronavirus pandemic accelerated in March and producers resorted to a price war after failing to agree on how to prop up prices. Oil prices tumbled on Thursday despite OPEC+ nearing agreement as the lockdowns ordered across the world sucked life out of the global economy, and traders reckoned that even a combined reduction of 15 million bpd would be too little to stabilise the market.

  • Low Oil Prices Are Putting Canadian Drillers Out Of Business
    Oilprice.com

    Low Oil Prices Are Putting Canadian Drillers Out Of Business

    A Rystad Energy analysis shows that Canada is the oil producer most affected so far, with the damage estimated to reach above 1.1 million barrels per day (bpd) in shut-in production in the second quarter of 2020

  • HollyFrontier Cuts 2020 Capex View to Survive Oil Price Rout
    Zacks

    HollyFrontier Cuts 2020 Capex View to Survive Oil Price Rout

    HollyFrontier's (HFC) Lubricants and Specialty Products segment is scrapping 2020 outlook for Rack Forward due to flagging global market demand.

  • Reuters

    OPEC+ to debate oil cuts as big as 20 million bpd - sources

    OPEC and other oil producers will debate on Thursday oil cuts as big as 20 million barrels per day, equivalent to about 20% of global supplies, one OPEC source and a Russian source told Reuters. "That is a global deal," the OPEC source said. Another OPEC source and a separate Russian source told Reuters that Russia and Saudi Arabia had managed to remove their main obstacles to agreeing a new deal on oil cuts.

  • Reuters

    Oil importers may announce purchases to help demand - IEA head tells TV

    Oil importing countries may announce crude oil purchases to support crude demand which has tumbled as a result of the coronavirus crisis, International Energy Agency Executive Director Fatih Birol told al-Arabiya TV on Thursday. "We may hear tomorrow (Friday) countries purchasing crude to build up their strategic (reserves) and support demand," Birol said, according to the al-Arabiya television channel. "We will see a recovery of demand in line with the resolution of this problem and the return of the global economy, but I don't expect a very quick recovery of oil prices," he said.

  • Reuters

    Palm oil prices face 'large decline' as pandemic hammers exports -analyst Fry

    Palm oil producers must brace for crude palm oil prices to fall sharply as coronavirus-led lockdowns around the world curb consumption and boost stocks, said leading industry analyst James Fry. As the lockdowns shuttered restaurants, many industry players had expected that demand for palm oil, used in everything from instant noodles to shampoo, would remain relatively well supported.

  • Saudi, Russia closing in on record oil cut deal
    Reuters

    Saudi, Russia closing in on record oil cut deal

    OPEC and it allies held talks on Thursday on record oil output curbs of 15 million to 20 million barrels per day (bpd), or 15% to 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said. Talks have been complicated by friction between OPEC leader Saudi Arabia and non-OPEC Russia, two of the world's biggest oil producers.

  • Gold hits one-month peak fuelled by Fed's new stimulus measures
    Reuters

    Gold hits one-month peak fuelled by Fed's new stimulus measures

    Spot gold jumped 2% at $1,678.53 per ounce by 11:19 a.m. EDT (1519 GMT), having earlier hit its highest since March 9 at $1,684.84. U.S. gold futures soared 3% to $1,734.20. "The Fed unveiled yet another howitzer from its arsenal offering substantial relief to small and medium sized businesses as well as municipalities," said Tai Wong, head of base and precious metals derivatives trading at BMO.

  • European Equities: COVID-19 Updates and U.S Stats in Focus
    FX Empire

    European Equities: COVID-19 Updates and U.S Stats in Focus

    The Futures point northwards as the latest coronavirus numbers reveal an easing in the number of new cases.

  • The Solution To The Oil Price War
    Oilprice.com

    The Solution To The Oil Price War

    While both Saudi Arabia and Russia have succeeded in crashing oil prices and bringing U.S. representative to the negotiating table, they are both running out of time

  • Is Trump Right About Falling U.S. Oil Output?
    Oilprice.com

    Is Trump Right About Falling U.S. Oil Output?

    U.S. President Trump claimed this week that the U.S. shale patch is already cutting output, but are his claims based on real data?

  • Oilprice.com

    Pandemic And Price Crash Force Gulf Oil Producers To Take On Debt

    Arab Gulf oil producers began to tap the debt markets this week amid growing fiscal pressures on their economies and wealth funds in the oil price crash and the coronavirus pandemic

  • U.S. crude and fuel stocks soar as demand craters due to pandemic - EIA
    Reuters

    U.S. crude and fuel stocks soar as demand craters due to pandemic - EIA

    The oil markets have crashed as the pandemic has sapped fuel demand, virtually shutting down commercial aviation worldwide and cutting off gasoline demand as people stay home and businesses remain shuttered. U.S. fuel demand has dropped by about one-third in the last three weeks, according to the U.S. Energy Information Administration, with last week's fall of 3.4 million barrels per day (bpd) the most ever. The weekly figures on refining activity and oil production show the industry making the painful adjustments to throttle back activities as worldwide demand is expected to drop by roughly 30%.

  • Oilprice.com

    U.S. Oil Production Could Fall By 2 Million Barrels Per Day

    Crude oil production in the United States could fall by about 2 million bpd from current estimates of daily averages, according to the Energy Information Administration

  • How is Coronavirus Affecting the Oil & Gas Drilling Industry?
    Zacks

    How is Coronavirus Affecting the Oil & Gas Drilling Industry?

    How is Coronavirus Affecting the Oil & Gas Drilling Industry?

  • Crude Slump: Halliburton (HAL) Cuts 350 Jobs in Oklahoma
    Zacks

    Crude Slump: Halliburton (HAL) Cuts 350 Jobs in Oklahoma

    Halliburton (HAL) is planning to freeze certain benefits dispensed for employee retirement accounts as the company continues to struggle with lower oil prices.

  • Ovintiv Slashes Capex Twice in a Month, Betters Oil Hedges
    Zacks

    Ovintiv Slashes Capex Twice in a Month, Betters Oil Hedges

    Ovintiv (OVV) ensures strong cash-flow generation by streamlining oil hedges.

  • World's biggest oil producers still at odds before talks on major cuts
    Reuters

    World's biggest oil producers still at odds before talks on major cuts

    The world's top oil producers Saudi Arabia, Russia and the United States still seemed at odds on Wednesday, before this week's meetings on potentially big output cuts to shore up crude prices that have been hammered by the coronavirus crisis. Saudi Arabia and Russia, which fell out when a previous pact on curbing supplies collapsed in March, have signalled they could agree deep cuts to crude output but only if the United States and others outside a group known as OPEC+ joined in.

  • Oil futures higher on production cut hopes as inventory build limits gains
    Reuters

    Oil futures higher on production cut hopes as inventory build limits gains

    Crude prices edged up on Wednesday, buoyed by hopes that OPEC and its allies will strike a production cut agreement, but surging U.S. crude inventories muted the gains. Thursday's videoconference meeting between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia was expected to be more successful than their gathering in March, which ended in a failure to extend supply cuts and a price war between Saudi Arabia and Russia. Brent crude was up 32 cents, or 1%, at $32.19 by 12:46 p.m. EDT (1646 GMT).

  • U.S. pushes back on call by OPEC+ to join big oil output cuts
    Reuters

    U.S. pushes back on call by OPEC+ to join big oil output cuts

    Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis. Global oil demand has dropped by as much as 30%, or about 30 million barrels per day (bpd), as measures to reduce the virus' spread have caused demand for jet fuel, gasoline and diesel to crash. While Saudi Arabia, Russia and other members of the group known as OPEC+ have expressed willingness to return to the bargaining table, they have made their response conditional upon actions by the United States and other countries that are not members of OPEC.

  • Global Markets: Equities climb on hopes pandemic is peaking
    Reuters

    Global Markets: Equities climb on hopes pandemic is peaking

    World equity markets moved higher and oil prices stabilized on Wednesday on hopes the coronavirus pandemic is peaking and that more government stimulus measures could be on the way. After U.S. stock markets closed on Wednesday, President Donald Trump said the United States may be getting to the top of the coronavirus curve, suggesting the number of cases and fatalities may have peaked. The Trump administration asked Congress for an additional $250 billion in emergency economic aid for small U.S. businesses reeling from the impact of the outbreak.

  • Oil futures rise on hopes of production cuts
    Reuters

    Oil futures rise on hopes of production cuts

    Oil futures strengthened late in the session on Wednesday, buoyed by hopes that OPEC and its allies will strike a production cut agreement on Thursday. Brent dropped to $21.65, its lowest since 2002, on March 30. Thursday's video conference meeting between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia - a group known as OPEC+ - was expected to be more successful than their gathering in March, which ended in a failure to extend supply cuts and a price war between Saudi Arabia and Russia.

  • Oilprice.com

    Emerging Oil Hotspots Hammered By Coronavirus Crisis

    The ongoing price crash triggered by the coronavirus and the oil war has in many ways hammered investments into upcoming African, Latin American and Asian plays

  • Oilprice.com

    The Dream Of U.S. Energy Independence Is Dying Along With The Shale Revolution

    As demand for crude continues to dissipate, the dream of an energy-independent United States is crumbling

  • Chinese refiners try out cheap, exotic oil from Europe: sources
    Reuters

    Chinese refiners try out cheap, exotic oil from Europe: sources

    Bargain-hunting Chinese buyers have snapped up very cheap and sometimes obscure crude oil grades, mostly from Europe, where the impact of lockdowns to halt the new coronavirus has devastated demand. "If there is a buyer in Europe now, it is China," a Mediterranean oil trader said on condition of anonymity.