The Coronavirus pandemic has severely impacted the global oil industry, with crude prices hitting lows not seen in decades amid a decline in demand for energy in 2020. After starting the year with oil prices at $70 per barrel, supported by the recovery that was helped by the OPEC+ alliance …
Read More »US Trade Deficit Widens in November
Trade deficit in the United States rose by $4.4 billion to $84.8 billion in November, data showed on Wednesday. According to the US Census Bureau and the US Bureau of Economic Analysis exports of goods for November were $127.2 billion, $1.1 billion more than October exports, while imports of goods …
Read More »US Oil Stockpiles Down 6.1 M Barrels in Week
Crude oil inventories in the United States declined by 6.1 million barrels last week, according to the weekly report by the U.S. Energy Information Administration (EIA).
Read More »USD Declines Across the Board
The US Dollar (USD) is declining across the board on Wednesday, maintaining its downward trend. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies is down by 0.33% at 89.69. The index has been moving today in a range between 89.56 and …
Read More »Wall Street Opens Wednesday on Higher Note
The main indices of the New York Stock Exchange (NYSE) opened Wednesday higher, supported by an improved investors’ sentiment in Wall Street. The Dow Jones Industrial Average is up by 116.5 points, or 0.38%, at 30,450.95 points. The S&P 500 gained 10.6 points, or 0.29%, at it is currently trading …
Read More »China and EU Reach New Investment Deal
The European Union (EU) and China have reportedly reached an agreement to open the Chinese market to European investors, Bloomberg reported. The deal has been negotiated for a very long time, since 2013, and it could come effective as of 2022. The EU is focused on expanding economic opportunities in …
Read More »US: Trade Deficit Widens to $84.8 Billion in November
The United States’ goods and services deficit rose by $4.4 billion to $84.8 billion in November, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Wednesday.
Read More »European Union Governments Agree to Trade Agreement With Britain
German Foreign Minister Heiko Maas said that European Union governments agreed Tuesday to the trade agreement that regulates relations between Britain and the 27-nation bloc, which paves the way for its temporary implementation from January 1. The agreement, which maintains no customs duties or quotas for Britain, to the European …
Read More »Gold Settled Amid Britain’s Approval of a Vaccine And Dollar’s Decline
Gold prices settled on Wednesday, December 30, as Britain approved an anti-Covid-19 vaccine, invented by the University of Oxford in cooperation with AstraZeneca, which boosted risk appetite, while the dollar’s decline limited precious metal losses during weak holiday transactions. There was little change in spot gold trading, at $ 1878.52 …
Read More »Oxford/AstraZeneca Covid Vaccine Approved For Use in The UK
According to the latest headlines floating on the wires, the UK confirmed that regulators have approved the use of the AstraZeneca/Oxford coronavirus vaccine. The UK health department announced that the government has accepted the recommendation by the MHRA to authorise the vaccine for use in the UK.
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