Bloomberg Oil’s weekly winning streak has stopped in its tracks. After six straight periods of gains, US benchmark crude futures dropped 8.3% this week. Market sentiment soured after the Federal Reserve warned of the coronavirus pandemic’s prolonged damage to the economy. Plus, fears over a second wave of virus infections threaten to disrupt any demand recovery. While crude has pushed …

Bloomberg Investors may pull as much as $100 billion from the hedge fund industry this year, as a result of the economic fallout from the coronavirus crisis. The outflows — which may range from $50 billion to $100 billion — would mark the largest drawdown since the global financial crisis, when the industry saw $154 billion in withdrawals in 2008, …

Bloomberg Explorers slashed drilling in the world’s biggest shale patch for a 13th straight week as they wrangle with a global pandemic that’s crimping demand for crude and leaving many strapped for cash. The number of active drilling rigs in the Permian Basin of West Texas and New Mexico fell by 4 to 137, just 3 above a record low …