Oil prices hit 5-month high as U.S. crude stockpiles, dollar fall

Oil prices rose to their highest since early March on Wednesday after U.S. crude inventories fell sharply and the dollar weakened, but mounting coronavirus infections had investors worried about the demand outlook. Brent crude ended the session up 74 cents, or 1.7%, at $45.17 a barrel, while West Texas Intermediate oil settled 49 cents, or […]

August 10, 2020

U.S. shale producers Pioneer Natural Resources, Devon pitch plans for variable dividend

Pioneer Natural Resources and Devon Energy Corp plan a variable dividend, executives at the U.S. shale producers said on Wednesday as companies in the battered sector seek ways to reward shareholders after years of poor returns. The payment could be a new model for a volatile industry out of favor with investors, said Pioneer’s CEO […]

August 10, 2020

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