Crude-oil futures finished Monday at their lowest price in a week, with production in Libya, Norway and the Gulf of Mexico set to recover.

Libya lifted force majeure at its largest oil field, producers began restoring output in the Gulf of Mexico following Hurricane Delta, and crude output in Norway looked to recover following the end of an oil-worker strike.

West Texas Intermediate crude for November delivery

fell $1.17, or 2.9%, to settle at $39.43 a barrel on the New York Mercantile Exchange. December Brent crude

lost $1.13, or 2.6%, at $41.72 a barrel on ICE Futures Europe.

Front-month WTI, the U.S. benchmark, and global benchmark Brent on Monday both marked their lowest settlements since Oct. 5, according to Dow Jones Market Data.

With the passing of the hurricane and the resolution of the strike in Norway, “investors are more concerned about the higher output in the face of subdued demand,” said Mihir Kapadia, chief executive of Sun Global Investments, in emailed comments. “However, more disruptions in the Gulf are likely in the coming weeks as the hurricane season continues. This could see prices increase again as workers will be expected to halt production during this time. ”

Hurricane Delta hit Louisiana as a Category 2 storm with sustained winds of over 100 miles an hour on Friday. The Bureau of Safety and Environmental Enforcement estimated Monday that 69.4% of oil output in the Gulf of Mexico remained shut in due to the storm, along with 47.1% of natural-gas production. That’s a big improvement from Sunday, when 91.01% of oil output and 62.15% of natural-gas production were shut in.

Offshore output was returning in the aftermath of the hurricane, said Robbie Fraser, senior commodity analyst at Schneider Electric, in a note.

The year 2020 has seen

Swiss Skydiver (4), with Robby Albarado aboard, wins the 145th Preakness Stakes horse race at Pimlico Race Course, Saturday, Oct. 3, 2020, in Baltimore. (AP Photo/Steve Helber)

Steve Helber/Associated Press

A month ago, Authentic was the Kentucky Derby spoiler in a thrilling head-to-head faceoff with Tiz the Law. 

Swiss Skydiver gave Authentic a taste of its own medicine Saturday. The filly outlasted Authentic by a neck to take home the 2020 Preakness Stakes, concluding the Triple Crown cycle with three different winners for each race.  

Swiss Skydiver is the first filly to win a Triple Crown race since Rachel Alexandria in 2009 and just the 12th in horse racing’s history. Six fillies have won the Preakness, making it the likeliest Triple Crown race to produce a female winner.

2020 Preakness Stakes Finish/Payout

1. Swiss Skydiver ($600,000)
2. Authentic ($200,000)
3. Jesus’ Team ($110,000)
4. Art Collector ($60,000)
5. Max Player ($30,000)
6. Excession
7. Mr. Big News
8. Thousand Words
9. NY Traffic
10. Pneumatic
11. LiveYourBeastLife

“Just a real honor to be around a horse like this,” trainer Kenny McPeek told reporters after the reace. “It’s a special moment.”

Swiss Skydiver and Authentic turned in a classic head-to-head battle, with no other horse coming within 10 lengths of the two. Swiss Skydiver was able to get to the inside rail after Authentic jockey John Velazquez moved to the outside and took advantage to take the lead in the final stretch and hold off the Bob Baffert-trained colt.

Jesus’ Team, who came into the race as a 40-1 underdog, finished third. Art Collector turned in a disappointing effort to finish fourth. Many considered Art Collector as the best challenger to Authentic with Tiz the Law sitting out the final leg of the Triple

Jockey John Velazquez riding Authentic, right, crosses the finish line ahead of Jockey Manny Franco riding Tiz the Law to win the 146th running of the Kentucky Derby at Churchill Downs, Saturday, Sept. 5, 2020, in Louisville, Ky. (AP Photo/Jeff Roberson)

Jeff Roberson/Associated Press

Authentic is the favorite in the 2020 Preakness Stakes after his upset victory over Belmont Stakes winner Tiz the Law in the Kentucky Derby last month.

Saturday’s race will mark the end of a unique Triple Crown season that’s coming to a close in early October rather than early June because of the coronavirus pandemic. Although the timeline has changed, the action on the track hasn’t lost any of its luster thanks to a strong three-year-old class.

Let’s check out all of the important information for the 145th edition of the Run for the Black-Eyed Susans, including a look at the full 11-horse field. That’s followed by a race preview.


Key Details

Where: Pimlico Race Course in Baltimore

When: Saturday, Oct. 3 at 5:45 p.m. ET

Watch: NBC

Live Stream: NBC Sports Live

Prize Money: $1 million purse


Race Field and Odds

1. Excession: 30-1

2. Mr. Big News: 12-1

3. Art Collector: 5-2

4. Swiss Skydiver: 6-1

5. Thousand Words: 6-1

6. Jesus’ Team: 30-1

7. Ny Traffic: 15-1

8. Max Player: 15-1

9. Authentic: 9-5

10. Pneumatic: 20-1

11. Liveyourbeastlife: 30-1

Morning-line odds via the race’s official website.


Preakness Predictions

It wasn’t a surprise when Authentic surged to the front in the Derby but his ability to hold off Tiz the Law during the stretch run after setting the pace for nearly the entire race showed a level of endurance he hadn’t previously displayed, and it raises his outlook moving forward.

Expect jockey John Velazquez to utilize a similar game plan in the Preakness. The fact the final jewel of the Triple Crown is happening after a month-long break gives Authentic a better opportunity to duplicate his strong run at Churchill Downs, as well. So he’s the rightful favorite.


Stocks ended lower Friday after President Donald Trump said he tested positive for the coronavirus and the U.S. added fewer jobs in September than forecast.

The Dow Jones Industrial Average, which had tumbled on the news, ended down 134 points, or 0.48%, at 27,682, the S&P 500 declined 0.96% and the Nasdaq slumped 2.22%.

But the stock market finished the week higher: The Dow rose by 1.9%, and the S&P 500 and the Nasdaq each gained 1.5%.

Airline stocks climbed after House Speaker Nancy Pelosi she was willing to pass a stand-alone Covid-19 airline-relief bill and asked the airlines to delay job cuts that started this week. 

United Airlines  (UAL) – Get Report, Delta Airlines  (DAL) – Get Report, and Southwest Airlines  (LUV) – Get Report all finished higher.

Tech stocks got hammered during the session, with Netflix  (NFLX) – Get Report, Alphabet  (GOOGL) – Get Report, Apple  (AAPL) – Get Report and Amazon  (AMZN) – Get Report all finishing lower.

Just before 1 a.m. ET Friday, the president posted via Twitter that he and First Lady Melania Trump tested positive for the novel coronavirus, adding that the two “will get through this together.” 

Reports Friday said Trump was experiencing cold-like symptoms.

Hours earlier, he had said that Hope Hicks, his adviser, also tested positive for Covid-19.

Vice President Mike Pence, Second Lady Karen Pence, and Vice President Joe Biden and his wife, Jill, all tested negative.

The announcement early Friday from Trump came as big cities across the U.S., such as New York, have seen coronavirus cases spike. Roughly 7.3 million cases of the virus have been confirmed in the U.S., with more than 208,400 deaths, the most in the world.