Commodities

Oil prices tumble to 18-year lows
Oil prices have hit fresh lows as the bitter price war between Saudi Arabia and Russia and the growing impact of coronavirus on the US and global economies weigh heavily.

Chevron cuts spending by $4bn to strengthen finances
Chevron will cut capital and exploration spending by $4bn (£3. 4bn) and scrap share buybacks to strengthen its finances against the effects of the coronavirus crisis.

Rio Tinto curtails activity in South Africa and Canada
Rio Tinto will curtail operations in South Africa and Canada to comply with measures imposed by the countries' governments in response to the Covid-19 crisis.

Anglo American reviews South Africa lockdown order
Anglo American said it was reviewing the impact of the South African government's national lockdown to curb the spread of Covid-19.

Rush for greenback sees pound plunge
The pound has tumbled to lows not seen since the shock Brexit referendum result in 2016, as the coronavirus pandemic prompts a "synchronised rush" to buy up dollars.

Oil prices in fresh falls as lockdown fears weigh heavily
Oil prices have taken a fresh pounding, as the growing global lockdown and souring of relations between Saudi Arabia and Russia weigh heavily.

Global banks fail to cut funding for fossil fuel projects
Analysis from 35 top investment banks revealed that over $2. 66tn had been invested in fossil fuel projects since the Paris Climate Agreement in 2016.

OPEC slashes oil forecast as coronavirus hits demand
OPEC has slashed its forecast for annual global oil consumption on the expectation that there will be almost no growth in demand as the coronavirus hits the world economy.

JP Morgan says risk-reward trade off in US equities has improved
Equity strategists at JP Morgan believe the risk-reward trade-off in US equities has improved in the wake one of the worst sell-offs in share prices since 1928 the day before.

Oil price war escalates as Saudi Arabia hikes output
Saudi Arabia has pledged to flood the market with crude, as its oil price war with former ally Russia escalated.

Brent oil futures plummet 25% after Saudi Arabia cuts selling prices
Crude oil futures are hurtling lower following Saudi Arabia's decision to slash its official selling prices to Asia, Europe and the US by a record amount, marking the start of a price war after the Organisation of Petroleum Exporting Countries's failure to strike an agreement with the Russian Federation during the previous week to curb their combined production.

Goldman, Merrill cut oil forecasts as price war gets underway
Goldman Sachs and Bank of America Merrill Lynch have cut their forecasts for crude oil prices following a dispute between Russia and Saudi Arabia, warning that they could fall as low as $20 a barrel.

Oil prices plunge 30% on price war fears, sparking global equities fall
Oil prices crashed more than 30% on Monday as Saudi Arabia sparked a price war after talks between Opec and Russia on production cuts collapsed last Friday.

Brent oil futures slide on reports Russia will not agree to extra cuts
Russia is willing to extend the existing oil output curbs agreed with other OPEC+ countries until June, but for the moment refuses to participate in extra reductions.