Dmitry Peskov, a spokesman for the President of Russia’s office, said that Russia could tolerate meager oil prices. The country has an excellent ability to maintain itself for a period of declining oil prices. However, the country was cautious in using oil reserves. The Kremlin official said it was difficult for President Putin to postpone …
Russia is ready to go through a period of declining oil prices Read More »
Gold prices saw some gains in early US trading Monday. The yellow metal still has a firmly bullish technical posture. June futures for gold Crude oil prices dropped sharply. Gold prices may have seen some additional haven buying interest. Precious metals have become the focus of attention for traders and researchers recently. Bank of America …
Strategists say that if the collapse in oil prices this week was bad, it could be fundamentally worse next month. In fact, prices could fall as low as -$100 per barrel. Paul Sankey, the managing director of Mizuho Group, stated that oil is difficult to handle. It’s impossible to store oil everywhere. Storage will be …
In an attempt to stem the damage of low oil prices, Saudi Arabia plans to reduce Riyals to 120 billion ($32 billion) from its cash reserves. Mohammed Al-Jadaan, the minister of finance of SA, said that the Coronavirus pandemic is destroying the economy. Despite the measures the country has taken to combat deficits in the …
Investors have gathered around traditional safe-haven assets after U.S. oil prices fell below zero for the first time in history, as the COVID-19 pandemic spreads. U.S. Treasury yields were higher Wednesday as stocks rose on a rush of more grounded income reports and another financial boost bundle passed by the U.S. Senate. A recent rebound …
Treasury yields rebound as crude markets attempt to stabilize Read More »
Oil imports in China have dropped in March, according to a Reuters poll on Monday. Analysts expect China’s economic contraction in the first quarter of 2020 due to the Coronavirus outbreak. China is the world’s top oil importer and a critical driver of oil demand growth. The country went into lockdown at the end of …
China’s oil imports suffer from the steep decline Read More »
The relentless spread of the coronavirus outside China boosted demand for safe-haven assets. And raised support for interest rate cuts from major central banks. As a result, palladium and scaled another all-time high on supply deficit worries. Both oil and Asian share markets dropped as investors reached for the safety of gold and bonds. While …
Oil Slide with Asian Stocks as Safe-Haven assets Reach High Read More »
Bulls felt a sigh of relief this Wednesday’s trading as prices continue to advance in the market. After a rough couple of days, both Brent oil and crude oil reached green territories. Oil futures were able to extend their rally after China reported its lowest rate of new cases for the virus. Experts and traders …
Oil Prices Jump Against Updates on Coronavirus Cases Read More »
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