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Turkish lira drops to record low over US sanction threat

The Turkish currency slid further Monday to an all-time low against the U.S. dollar after President Recep Tayyip Erdogan challenged the United States to slap sanctions over his government’s decision to test its Russian-made air defense system. The lira dropped another 1.3% to 8.06 against...

Oil drops on rising virus cases, increasing Libyan output

Oil prices fell on Monday, extending last week’s losses, as increasing coronavirus cases in the United States and Europe raised worries about energy demand, while Libya’s fast growing production also weighed on prices. Brent LCOc1 was down $1.08, or 2.6%, at $40.69 by 0934 GMT. U.S....

Chevron bets on Middle East gas riches and reconciliation

After years of focusing on U.S. shale, Chevron Corp is staking its natural gas future on the Middle East, a volatile and divided region where energy majors have long tread warily. CEO Michael Wirth's pivot away from home is underpinned by a bet that the Middle East is entering an era of...