Bloomberg Oil slumped in New York as the Federal Reserve forecast a long road to recovery for the US economy and American crude inventories rose to a record. Futures lost 3.5% to trade near $38 a barrel. Fed Chairman Jerome Powell said the pandemic could inflict long-lasting damage on the economy and signaled it would keep rates near zero possibly …

Bloomberg Chesapeake Energy Corp is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the US shale revolution to senior lenders, according to people with knowledge of the matter. The dwindling options for a powerhouse that once rivaled Exxon Mobil Corp for title of king of American natural gas comes after CEO Doug Lawler’s …

Bloomberg Royal Dutch Shell Plc, the world’s largest liquefied natural gas (LNG) trader, expects buying and selling of the fastest-growing fuel to recover to levels seen before the pandemic. Global LNG demand took a severe hit when nations imposed lockdowns to combat the spread of the coronavirus, impacting the fuel’s use in everything from power plants to transport and factories. …