Oil prices rose on Thursday, but an unexpected increase in US crude stocks and the continued increase in new cases of Covid-19 discouraged the recovery in demand for fuel and limit gains. US crude oil inventories and distillates rose unexpectedly while fuel demand fell last week, the US Energy Information …

Previously occupied home sales increased by 20.7% from May to June while mortgage applications rose 19% last week. The figures were near a historic low but markets did not react to higher home sales. Existing home sales, the largest category in the US market, increased by 20.7% in June as …

Citing official data, Reuters reported that oil exports from Saudi Arabia, the OPEC’s top producer, fell by 44,277 million riyals (USD12 billion) or 65.0% in May 2020. In the face of the falling oil exports and its revenue, Saudi’s Finance Minister Mohammad Aljadaan said at a video forum hosted by …

FX option expiries for July 23 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1470 876m1.1500 1.2bn1.1550 823m – USD/JPY: USD amounts          108.25 500m  – NZD/USD: NZD amounts 0.6750 236m – EUR/GBP: EUR amounts 0.9060 394m 

On Tuesday, the EU member states approved a 750 billion euro recovery fund which included 360 billion euros in loans and 390 billion euros in grants. The money will be raised collectively by selling bonds. European Central Bank (ECB) President Christine Lagarde talks on Wednesday, she said that the fact …

Canada’s annual consumer price index rose more than expected in June as data released by Statistics Canada on Wednesday showed that Canada’s inflation, measured by the CPI, rose 0.7% year-on-year in June, above market expectations of 0.2% monthly basis. The consumer price index reached 0.8%. The USD/CAD pair remains in …

House prices in the United States of America fell during last May missing expectations. Data released by the Federal Housing Finance Index on Wednesday showed that house prices increased by -0.3% MoM, compared to 0.1% in the previous April. Analysts had expected US house prices to rise by 0.4% in …

Baker Hughes Oilfield Services announced on Wednesday that it posted its second quarterly loss this year and warned that it was preparing for a longer period of fluctuation after falling oil prices undermined demand for services. The net loss attributable increased to $ 201 million, or 31 cents per share, …

Oil prices rose on Tuesday, with a larger-than-expected increase in US, and the increase in cases of Covid19 may lead to an increase in fuel demand in the largest oil consumer in the world. Brent crude futures for September delivery are currently trading at $ 44.29 a barrel, down by …

The US has abruptly informed China to close its consulate in Houston in the next 72 hours on Tuesday, July 21. The geopolitical tensions intensified on this news, as China’s foreign ministry urged the US to correct this mistake, or otherwise, there will be retaliation. The State Department’s spokesperson Morgan …