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Oil tanks 6% on surging COVID-19 cases and inventory build-ups

29 days ago   |   By Business Insider

Summary List Placement
Oil futures tanked on Wednesday as escalating coronavirus fears and surging US stockpiles drove new uncertainty around the commodity market's recovery.
West Texas Intermediate crude sank as much as 6.4%, to $37.04 per barrel. Brent crude , oil's international standard, tumbled 5.8%, to $38.83 per barrel, at intraday lows.
A global resurgence in COVID-19 cases has intensified concerns around oil demand. France and Germany are reportedly set to start new lockdowns to curb the virus' spread.
US crude inventories climbed by 4.3 million barrels last week, the Energy...
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The stock market's fear gauge is hitting fresh highs days ahead of the election as COVID-19 cases surge

The stock market's fear gauge is hitting fresh highs days ahead of the election as COVID-19 cases surge

29 days ago   |   By Business Insider

Summary List Placement
The Cboe Volatility Index - or VIX , which is commonly referred to as the stock market's fear gauge - spiked to a more than four-month high on Wednesday.
The jump comes amid equity volatility that saw the benchmark S&P 500 register its biggest drop in a month on Monday. Major indexes were once again deeply in the red on Wednesday after mixed trading on Tuesday.
Soaring COVID-19 cases and dashed stimulus hopes have fueled intense sell-offs throughout the week. Both Germany and France on Wednesday announced new lockdown measures in response.
The upcoming US...
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