Airline industry braces for prolonged recovery from coronavirus crisis

International seat capacity has dropped by almost 80% from a year ago and half the world’s airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic. FILE PHOTO: A British Airways plane taxis past tail fins of parked aircraft to the runway near Terminal 5 …

Biden: Trump administration showed ‘poor judgment’ in removing warship commander

Democratic presidential contender Joe Biden said on Thursday that the Trump administration showed “poor judgment” in relieving the commander of an aircraft carrier who sought stronger measures to control a coronavirus outbreak onboard. “Donald Trump’s Acting Navy Secretary shot the messenger – a commanding officer who was faithful to both his national security mission and …

Oil futures pare record gains as doubts creep in on Trump’s Saudi-Russia output deal

Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. FILE PHOTO: The sun sets behind a crude oil pump jack on a …

Oil futures pare record gains as doubts creep in on Trump’s Saudi-Russia output deal

Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. Brent crude futures fell 3%, or 9 cents, to $29.05 as of 0127 …

Americans urged to wear masks outside as coronavirus pandemic worsens

The Trump administration appeared to join local officials on Thursday in advising Americans to wear masks when venturing out during the still-exploding coronavirus pandemic, as the U.S. death toll rose by 1,000 in a single day for the first time. Speaking at a White House briefing, Deborah Birx, a member of President Donald Trump’s coronavirus …

Petrobras says talks among Russia, Saudi Arabia, U.S. ‘irrelevant’ for oil prices

Recent negotiations involving leaders from major oil-producing nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil’s Petrobras said on Thursday evening. During an online event hosted by Brazilian brokerage XP, Petrobras CEO Roberto Castello Branco said the dispute between non-OPEC member …

Asian markets look to follow Wall Street rally as oil surges

Asian markets on Friday looked to latch onto Wall Street’s overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global recession. FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of …

Current talks among OPEC nations, U.S. insignificant for oil prices: Petrobras CEO

Recent negotiations involving leaders from OPEC nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil’s Petrobras said on Thursday evening. During an online event hosted by Brazilian brokerage XP, Petrobras CEO Roberto Castello Branco said that the current dispute between Russia …