Stock market quotes, forex, financial news, forex tools – money-investing.com

Oil recovers after the drop

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
Oil recovers after the drop
February 25
09:00 2020

Today, the energy market is being excited. Oil quotes have changed direction after yesterday’s collapse, which have turned to be the biggest over the past month and a half.

At 8:20, Moscow time, April contracts for the European Brent crude oil increased 0.37% ($ 0.21) and cost $ 56.5 per barrel. We recall that yesterday, the asset fell 3.76% ($ 2.2) and closed the session at $ 56.3 per barrel.

At the same time, the American WTI crude oil also showed the growth; the increase totaled 0.19 US dollars or 0.37%. On the eve, the fall amounted to 1.95 US dollars or 3.65%.

The spread of the coronavirus epidemic outside of China has influenced the investors’ mood. Not long ago, experts assumed that the insidious virus would not break out of China. However, now their confidence has been shaken. This means that slowdowns in global economic activity can hardly be avoided.

At the moment, experts believe that the rampant epidemic has resulted in a decrease in oil demand in China by 4 million bps. This is approximately 4% of the global consumption of black gold.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment