The announcement of a 90-day armistice agreement between the US and China in a trade war between the two countries pushed oil prices up. The negotiations scheduled for this period are expected to help settle trade disputes. On Monday, at 5:39 pm Moscow time, Brent crude rose by 3.7% to 61 dollars 66 cents a barrel. The price of WTI crude oil rose by 3.91% and amounted to 52 dollars 92 cents per barrel. The growth of prices was also promoted by the intention of the Canadian province of Alberta to reduce the surplus of raw materials in storage, for which manufacturers are obliged to reduce oil production by 8.7%. The market also expects OPEC member countries to agree to lower production at the summit to be held this week.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...