…A rally in equities lost some of its steam in Asia as traders weighed up the latest signs of a slowdown in the spread of coronavirus against its catastrophic impact on business and economic activity…
As European countries fight the coronavirus pandemic, they “must not lose sight” of the EU’s climate neutrality objective, the European Commission reminded on Wednesday (8 April).
Iran demanded on Wednesday that U.S. oil production levels must be known before an upcoming OPEC meeting with Russia and others seeking to boost global energy prices.
Motorists and transport operators in many Asian countries may be feeling either aggrieved, or puzzled, as to why the dramatic slump in crude and refinery prices for fuels hasn’t been fully reflected in the price they pay at the pump.
The World Bank and International Monetary Fund are racing to provide emergency funds to African countries and others to combat the virus and mitigate the impact of sweeping shutdowns aiming at curbing its spread.
Oil prices rose on Thursday on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand.
Top crude producers will on Thursday hold a crucial teleconference to discuss a possible cut in output after a collapse in demand caused by the coronavirus pandemic and a damaging Saudi-Russia price war caused a crash in the market.
Oil extended gains as the world’s top oil producers appeared to be moving closer to a deal to curb output in the face of deepening demand destruction being wrought by the coronavirus.
Oil is set to tumble back toward $20 a barrel as global producers will likely fall short of targeted cuts this week, leaving a supply overhang that will threaten to overwhelm global storage.
Oil futures rose in electronic trade early Thursday as investors awaited the outcome of a crucial meeting of OPEC and its allies that is intended to end a price war between Russia and Saudi Arabia.