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Nikkei snaps eight-day winning streak as COVID-19 cases surge
Global oil prices slumped to their lowest prices in nearly five months today as fears over new coronavirus lockdowns mounted. With numbers of new cases climbing around the world, several countries have put in place new restrictions, putting downward pressure on demand. Both Brent crude and West Texas Intermediate fell about six per cent earlier, [...]
China’s economy expanded 4.9 per cent year-on-year in the third quarter, missing expectations but storming ahead of other nations still suffering the economic fallout from the pandemic. Chinese GDP continued its recovery between July and September, marking a second consecutive quarter of growth following a 3.2 per cent hike in the second quarter. The return [...]
Alternative energy sources to fossil fuels have been around for many years. Countries around the world are now harnessing the power of the wind, sun and tides to cut their dependence on fossil fuels such as oil. Energy transition However, this transition to renewable energy is now set to accelerate rapidly, driven by a number [...]
IPOs of all shapes and sizes were understandably shelved by the turmoil in global markets in the first half of the year. It would be a brave company that would launch their newly-listed firm into a global stock market that was in the midst of its biggest and most dramatic rout in years. It is [...]
The International Energy Agency (IEA) today reduced its forecast for global oil demand for the year, saying that the continued uncertainty caused by coronavirus shows little sign of abating. Oil markets have been rocked by unprecedented volatility this year, with the near-total shutdown of air travel and other restrictions on economic activity sending demand plunging. [...]
In this episode Christian talks to Gary Baker, EMEA MD of the CFA Institute, the global network of investment professionals, about how markets and investors have reacted to waves of market disruption and unprecedented central bank intervention. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Gary also talks about the role of human decision-making and judgement amid a rise [...]
State oil giant Saudi Aramco saw profit collapse nearly 75 per cent in the second quarter as the coronavirus pandemic decimated oil prices around the world. In the three month period, profit fell to 24.6bn riyals (£5bn), down 73 per cent from 92.6bn riyals the year before. The figure was lower than that forecast by [...]
Oil prices topped $42 today after oil producer group Opec and its allies pledged better compliance with record production cuts in a meeting yesterday. Worldwide standard Brent crude rose 2.3 per cent to hit $42.46 this morning, extending gains from its previous session. Meanwhile, US benchmark West Texas Intermediate was headed back towards $40 where [...]
Global oil prices slipped back this morning on rising fears over a second wave of coronavirus infections after an outbreak in Beijing. Worldwide benchmark Brent crude fell 1.5 per cent over the morning’s trading, slipping back to $40.34. Meanwhile US standard West Texas Intermediate, which was recently trading close to $40 levels, dropped 1.8 per [...]
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