Saturday, July 30, 2016

Oil Bear Market Begins

Chevron loses $1.47 billion as slump in oil prices persists

SAN RAMON, Calif. — Battered by a protracted slump in worldwide oil prices, Chevron suffered a second-quarter loss, its third straight quarter of red ink, the company said Friday. The energy giant lost $1.47 billion during the quarter that ended in June, compared with a profit of $571 million for the year-ago second quarter. "The second…