Oil Rises After Biggest Surge Since May on Stimulus Optimism

(Bloomberg) — Oil rose further after the biggest gain since May on growing optimism for more U.S. fiscal stimulus and as Hurricane Delta heads for the Gulf of Mexico.

Futures added 3% in New York, following Monday’s surge above $39 a barrel. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin will resume talks on Tuesday on another round of pandemic relief funding, but there’s no sign yet they are close to a deal despite Trump’s urging to get it done.

At the same time Hurricane Delta is hurtling toward the Gulf of Mexico, where it will likely force oil production to shut down. Gasoline futures gained Monday as the storm’s track became clearer, and continued to outpace gains in crude Tuesday.



chart: Oil reverses last week's losses when it plunged to a three-week low


© Bloomberg
Oil reverses last week’s losses when it plunged to a three-week low

Crude started the week by getting swept up in a broader market relief rally,

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We Need More Entrepreneurs Building Companies That Address Society’s Biggest Needs

2020 is the year the world’s attention turned to the deep fractures of our economic, political, educational, and healthcare systems. The year when status quo solutions were no longer good enough. For all the declarations of being “in this together,” the dual pandemics of Covid-19 and systemic racism have revealed how low-income communities and people of color are disproportionately left out, let down, and punished by our systems.

The death of George Floyd, representing too many Black lives lost, has reignited the movement for racial justice around the world, demonstrating that we urgently need to build a society that is not only inclusive, but also just. The immediate call to reform police and criminal-justice systems in America is a significant step, but the change must go further. We must upend how capital flows, how hospitals care for patients, how institutions lend, how employers hire and care for workers, and how

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Canada, biggest provinces promise new steps to fight second COVID wave

By Allison Martell

TORONTO (Reuters) – Canada’s federal authorities and its two biggest provinces on Tuesday promised new measures to combat a second COVID-19 wave that is notching up as many cases as during the pandemic’s peak in April.

Canada reported new 2,176 infections on Monday, taking the total to 155,301. The death toll rose by 10 to 9,278.

Government minister Dominic LeBlanc, who chairs the cabinet’s coronavirus committee, called the surge “very worrying”.

Ontario, the most populous of the 10 provinces, said it would limit visitors to long-term care homes for the elderly in areas with high community spread. Most deaths in Canada have taken place in homes for seniors.

In Quebec, the second most populous, premier Francois Legault said financial support for businesses hurt by new COVID-19 restrictions would be announced soon. The province is closing bars and dine-in services at restaurants in hot spots for 28 days.

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