Search Results for:

Morning Briefing: WTI oil price collapsed below $15 for first time in 21 years

Crude oil prices extended their massive losses by falling another 20% this morning on lower demand and US storage filling concerns. WTI oil price collapsed below $15 per barrel for the first time since 1999, while Brent crude fell 4% at $27.

Morning Briefing: Global markets rallied on hopes for coronavirus drug treatment

Global financial markets surged by more than 2% on Friday morning after a report stating that a Gilead Sciences drug was showing effectiveness in treating the coronavirus. In addition, markets have also received support after President Trump released a three-phase process to reopen the US economy, finishing the pandemic lockdown.

Morning Briefing: Global markets fell on gloomy US consumer spending

The global financial markets fell sharply on Wednesday after the record low US March consumer spending, manufacturing data and disappointing financial Q1 earnings. US Retail Sales dropped 8.7% during March, the biggest one-month decline since 1992, while New York manufacturing activity hit an all-time low, declining by 78%.

Morning Briefing: Financial markets extended gains on pandemic optimism

Global financial markets rallied on Tuesday as investors have been becoming more optimistic that the pandemic is easing. The US markets extended their massive gains from their March lows on improved risk sentiment and a strong rally in the technology sector.

Morning Briefing: Global markets higher on recovering Chinese trade data

The US futures and Asian Pacific stock markets moved higher by 2% on Tuesday morning after China announced better than expected trade balance data. China’s exports fell 6.6% in March after collapsing by 17% during the first two months of the year due the pandemic outbreak and lockdown in major cities.

Morning Briefing: Crude oil up 4% on a historic OPEC+ production cut deal

Crude oil prices surged by 4% on the first session of the week after OPEC group and its global oil producing allies, had agreed to reduce output by 9.7 million barrels per day, which was the single largest output cut in history. The US, Brazil, Canada and other oil producers will contribute to another 5 million barrels cut on paper as their production declines.