Brent rose 41 cents, or 2%, to $20.40 a barrel, WTI was down 78 cents, or 6%, at $12.00 a barrel.

"Due to the low LNG prices in 2019, and into 2020 amid a global LNG supply surplus and uncertainties in the trade environment, some of the proposed projects are seeing slower progress towards FID," the report said. "With the additional effect of COVID-19 on stock markets, many companies, including those in the energy industry, are struggling financially, further delaying progress of projects."

The pan-European STOXX 600 held at a near seven-week high with a 0.7% gain,

Germany's economy shrank by 1.9% in the first three months of 2020

Iraq is heavily reliant on Iran to maintain its power supply, and even then it has significant blackouts that are exacerbated by the summer heat.

BP p.l.c. Group results First quarter 2020

National Oilwell Varco, Inc. (NYSE: NOV) reported first quarter 2020 revenues of $1.88 billion, compared to $2.28 billion for the fourth quarter of 2019 and $1.94 billion for the first quarter of 2019.

Brent was down 90 cents, or 4.2%, at $20.54 a barrel, WTI fell $2.42, or 14.3%, to $14.52 a barrel

«Большинство эксперт­ов сходятся в том что на сегодня мы находимся на пике снижения спрос­а на нефть. Во втором полугодии, думаю, экономика начнет восстанавливат­ься и спрос будет ра­сти»,

Volatile movement is expected even as crude futures appear to have found a floor currently, after a dramatic week that saw the NYMEX contract slip into negative territory for the first time.