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Oil headed for its biggest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery.

Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak.

Look across the street from your home-office window: chances are you will see a delivery van.

Oil extended its slide to a second day on a cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.

Oil slipped as nations reimposed tighter lockdown restrictions in hopes of containing a resurgent pandemic that is depressing demand.

America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.

Oil held onto losses after U.S. government data showed the first crude stockpile gain in four weeks, adding to concerns over a demand recovery with stimulus talks in limbo.

Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte.

Oil in New York plunged below a key technical level for the first time since June as concerns over progress on another round of U.S. fiscal stimulus compounded growing fears that a sustained recovery in demand is still some way off.

Oil fell amid growing concerns that another wave of the coronavirus pandemic will lead to tighter lockdown measures and further stifle crude demand.