Market Update

The US oil giant Chevron turned to incur losses in the fourth quarter of $ 11 million, as lower fuel margins, the costs of acquisitions and the effects of foreign currency overshadowed the improvement in the results of exploration activities. It is expected that oil companies will benefit from the …

A Reuters survey concluded that OPEC oil production increased for a seventh month in January after the organization and its allies agreed to further ease record restrictions on supplies, but an involuntary drop in Nigeria’s exports limited the increase. The survey revealed that the 13 member states of the Organization …

Data from the Turkish Statistical Institute showed that the country’s tourism revenues in 2020 decreased by 65.1% to 12.059 billion dollars, showing the impact of the widespread travel restrictions imposed due to the emerging coronavirus pandemic. The data also revealed that tourism revenues in the fourth quarter of last year …

WTI settled unchanged this week, with futures settling above $52 a barrel, but below an 11-month high that touched it earlier in the month, as worries about fuel demand overshadowed lower global supplies. Earlier in January, OPEC+ announced production cuts through the first quarter of 2021, Saudi Arabia engaged in …

Data for the weekly flows of Bank of America showed that investor money continued to flow at unprecedented levels on stocks last week in light of the retail trading fever, which saw GameStop shares rise more than 2500% since the beginning of the year so far for some time. In …

The dollar won and risk-sensitive currencies fell, after an attack on indebted stocks by hedge funds in the United States dampened investor confidence and boosted demand for safe-haven currencies. Movements in the foreign exchange markets were moderate, as the dollar is still near trading levels it recorded in recent times, …

The German economy grew 0.1% inter-quarter in Q4 of 2020 with the expectation of 0% and 8.5% seen in Q3, the preliminary report published by Destatis revealed on Friday. Meanwhile, the GDP yearly rate fell by 3.9% in Q4 against the previous reading of -4% and beat market expectations of …

Japanese stocks fell for a second session, giving up early gains, as sales to investors to take profits and rebalance positions at the end of the month overshadowed a batch of technology companies that announced positive profits. Investors are growing concerned about more market turmoil as retail frenzy boosts market …

Data from the Turkish Statistics Institute showed that the country’s foreign trade deficit rose 16% year-on-year in December to $ 4.53 billion according to the general trade system, bringing the 2020 deficit as a whole to nearly $ 50 billion. The institute said Turkey’s exports fell 6.3% last month, and …

Gold prices are trading in a narrow range today, Friday, but prices are on the path of recording a weekly and monthly decline as the high dollar dispels the lustre of the yellow metal. Spot gold rose 0.2 $ to 1844.86 dollars an ounce. Prices fell 0.5% in the week …