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Oil swung between gains and losses as uncertainty over the prospect of a U.S. virus relief bill that could boost fuel consumption offset signals of tightening global supply.

The White House and congressional Democrats are locked in a standoff over the size and breadth of a new virus relief package, with their self-imposed Aug. 7 deadline for a deal looming.

U.S. applications for unemployment benefits fell more than expected last week to the lowest since the pandemic started, in a broad decline across nearly all states, suggesting the labor market is improving.

New York Gov. Andrew Cuomo emphasized the importance of recovery and revival as he accepted the role of chairman of the National Governors Association.

The nation’s East Coast ports continued to be battered by lower imports from overseas in June because of the COVID-19 pandemic.

The clock is ticking for Bonnie Morales and the acclaimed restaurant she opened a few years ago in Portland, Ore. She’s among thousands of U.S. small-business owners who are considering layoffs in coming months as they plow through government aid.

Partisan disagreements about the degree of assistance to provide various groups and industries have delayed a COVID-19 relief package.

The deficit in U.S. trade of goods and services narrowed in June for the first time since February as exports jumped, though shipments remained well below pre-pandemic levels.

Range Resources Corp. is selling its Louisiana shale fields for about one-tenth of what it paid for them just four years ago as depressed natural gas prices hammered the heavily indebted driller.

Smithfield Foods Inc. is defending its efforts to keep employees safe and supply food to the nation during the coronavirus pandemic.