According to Citigroup analysts, the price of Brent crude oil in the short term will increase by 3.6% to $75 per barrel and then continue to rise to $78. The main reason for the increase in its value is investors' concerns regarding the reduction in the supply of raw materials. At the same time, bank experts consider the situation caused by the aggravation of US trade demand with China, temporary, as they expect that the American president may return to a deal with China by the end of the year, seeking to increase the chances for re-election for a second presidential term. UBS analysts also predict a rise in the cost of Brent to $75 per barrel, based on the fact that the global oil market deficit is currently about 600 thousand barrels per day. They believe that the terms of the agreement on the limitation of OPEC + oil production may be mitigated in case of a further decline in production in Iran and Venezuela against the background of US sanctions.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions ...