Commodities

Fresnillo reports lower gold and silver production
Fresnillo said it would keep production guidance under review during the Covid-19 crisis as the precious metals miner reported lower output of gold and silver in the first quarter.

BP renegotiates terms of $5.6bn Alaska sale
BP said it had renegotiated the terms of the $5. 6bn (£4. 5bn) sale of its Alaska business in favour of buyer Hilcorp to take account of volatile markets and the depressed oil price.

Weekly US oil inventories jump, imports slip
US crude oil inventories registered another sharp rise during the previous week, although there were some slight signs that market fundamentals were starting to align themselves with the reduced amount of storage capacity left.

Centamin offers chunky dividend yield, Berenberg says
Centamin is on track for 2020 production guidance and its dividend looks set to deliver a chunky yield, Berenberg said as it increased its price target for the gold miner.

Trump calls for relief for US oil and gas industry, OPEC calls meeting
US President Donald Trump reiterated his support for America's oil and gas industry on Tuesday, saying his administration was working on relief measures for the sector.

US oil slides back into negative territory as turmoil continues
The price of oil for May delivery slid back into negative territory on Tuesday, as modest improvements overnight receded and June contracts started to come under pressure.

Historic rout in WTI futures amid fire sale ahead of expiry
US crude oil futures crashed at the start of the week with the price of West Texas Intermediate falling below zero for the first time ever.

JP Morgan stays at 'neutral' on Petrofac despite cancellation of Dalma contract
Analysts at JP Morgan stuck to their 'neutral' recommendation for shares of Petrofac, despite news that the Abu Dhabi National Oil Corporation had cancelled the $1. 5bn Engineering, Procurement and Construction for the Dalma Gas Development Project.

US oil plunges to low last seen in 1999
US crude oil futures plunged to a low not seen since the last century as concerns mounted that storage facilities could be overwhelmed due to plunging demand from the Covid-19 crisis.

Shell steps up net-zero emissions actions
Royal Dutch Shell said it was stepping up its activities to become carbon neutral to respond to heightened concerns about oil companies' impact on the climate.

Oil demand to plunge to 25-year low, IEA warns
Global demand for oil will plunge by as much as 29m barrels a day in April to a 25-year low, the International Energy Agency said as it warned no output cut could fully offset the short-term drop in demand.

Glencore's Peru JV closes but Quebec could reopen
Glencore said its joint venture in Peru had halted activity in line with Covid-19 guidelines but that it was looking at options to reopen mines in Quebec.

Oil-producing nations agree to historic 10% cut in production
Major oil producers Saudi Arabia and Russia reach a truce after collapse in demand and agree to cut global oil production by almost 10% to protect the market from coronavirus impact.

OPEC+ clinches output deal, Russia and Saudi end price war
The Organisation of Petroleum Exporting Countries and its key allies managed to pull a rabbit out of the hat at the last minute - defying skeptics.

ExxonMobil cuts capital spending by $10bn after oil crash
ExxonMobil has cut 2020 capital spending by $10bn (£8. 1bn) in response to the oil price crash caused by oversupply and the coronavirus crisis.

Oil falls after Saudi-Russia meeting delayed
Oil prices fell by about 1% on European exchanges but pared back earlier losses as markets reacted to Opec's cancellation of a meeting with Russia about potential production cuts.

Norway may join OPEC+ in cutting output, Canada will dial into summit
Norway may cut its oil production alongside other major producers if an agreement for a significant combined reduction can be reached.

Brent futures jump again after report Russian firms ready to cut
Crude oil futures extended the previous day's rally following reports that Russian oil producers were prepared to reduce their own output to help stem the rout in prices.

Brent oil spikes higher after Trump says Russia and Saudi will cut output
Traders in Brent crude oil endured a roller coaster-like session after the US President said Russia and Saudi had agreed to restrain their combined output, but Russian officials quickly appeared to call that into doubt, at least in part.