Crude oil suffers setback

As states slowly begin the process of reopening, fears of a secondary outbreak of COVID-19 coupled with rising domestic crude oil inventories halted an energy price advance and sent prices lower. Brent crude prices fell this week by 5 percent, and WTI (West Texas [...]

Oil prices slide as OPEC wrestles with production cuts

Oil prices have dropped by more than 20 percent since the start of this year and are retesting lows not seen since December 2018. Crude sunk to new contract lows in February, reaching beyond one-year lows on concerns of slower global economic growth, pressured [...]

Steep drop in oil influences corn futures

Corn futures are correlated to oil prices, as corn is used to produce ethanol. Oil prices hit an 11-month low due to weak demand and ample supply. WTI Crude Oil settled at $55.69 on Tuesday, its lowest closing price since Nov. 16, 2017. The oil [...]