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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...

Samsung Electronics chairman Lee Kun-hee dies at 78

Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said. Under Lee's leadership, Samsung rose to become the world's largest producer of smartphones and memory chips, and the firm's overall...

China and US economies diverge over coronavirus response

The United States and China dealt with the spread of the devastating coronavirus pandemic in vastly different ways, and that split is reshaping the global battle between the world's two leading economies. About 11 months after the Wuhan outbreak, China's official GDP numbers this week show...