Oil prices climbed on Tuesday on hopes the United States will expand pandemic aid payments, a move that could spur fuel demand and stimulate economic growth.

Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralyzed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out more stimulus.

A China-led economic recovery should boost demand for these commodities in 2021 after COVID-19 roiled global markets in 2020.

New York —

Russia and China have managed to keep the trade turnover at the record level of 2019 this year, Russian Ambassador to China Andrei Denisov told a press conference on Tuesday.

In 2019, the average Brent crude price was $64, while in 2020 it started at around $70, falling to $50 and averaging at closer to $40.

We all know that the Royal Enfield Classic 350 is the most popular mid-size motorcycle in India and anything related to it is sure to garner a lot of attention.

S-Oil announced on Dec. 28 that it has made an equity investment in Beomjun E&C, a venture company that produces hydraulic modified sulfur for concrete from byproduct sulfur generated from refining processes.

Although the pandemic will continue to weigh on oil demand in 2021, some estimates show that monthly supply deficits could reach their highest in years.

A year ago, as 2020 dawned, the trucking industry was eyeing a marine fuel regulation that it feared could spill over into diesel markets, boosting the price of that fuel.