Market Update

Data from the Chinese Bureau of National Statistics showed today, Monday, that China’s crude oil production rose 2.4% year on year in September to 16.1 million tons, while natural gas production increased 7.6% from a year ago. Crude oil production grew 1.7% year on year in the first nine months …

Sources in OPEC+ told Reuters that the group of oil-producing countries will meet on Monday to discuss expectations of weak demand in light of the high cases of Coronavirus and the increase in Libya’s production, but it is unlikely to recommend immediate action. A joint ministerial monitoring committee, including the …

Oil prices fell today, Monday, after the growth of the Chinese economy in the third quarter of the year was weaker than expected, highlighting concerns about the impact of the growing Coronavirus infections around the world on demand for the largest importer of crude in the world. The world’s second-largest …

European stocks rose in early trade on Monday, supported by strong results from Dutch Phillips and Swiss wealth manager Julius Baer, ​​overshadowing concerns about new restrictions imposed to combat the Coronavirus across the continent. The pan-European STOXX 600 index was up 0.8%, resuming its rise after suffering limited weekly losses. …

Gold prices rose on Monday, supported by concerns about the worsening Covid-19 pandemic, while the precious metal prices were also boosted by hopes for a new US stimulus package ahead of the presidential elections in November. The spot price of gold was up 0.6% to $ 1909.90 an ounce, while …

Japanese exports fell 4.9% in September year on year, more than expected. Imports decreased by 17.2%, better than expectations for a decline of 21.4%. As a result, the trade surplus decreased to 675.0 billion yen. It is reported that Japanese exports to China increased by 14.0%, the largest increase since …

China’s economic recovery accelerated in the third quarter of the year as consumers abandoned caution about the Coronavirus, but the main below-expected growth rate foretells continued risks to one of the few drivers of global demand. Official data revealed on Monday that gross domestic product (GDP) grew 4.9% from July …

Japanese shares closed higher on Monday, following US futures gains in Asian trade, thanks to hopes of reaching an agreement on a US program to mitigate the economic damage from the Corona virus before the presidential elections. The benchmark Nikkei index rose 1.11% at the close to 23,671.13 points, while …

The New York Stock Exchange (NYSE) finished the week with marginal gains, supported by an improvement in investors’ sentiment after data showed an increase in retail sales in the United States. The Dow Jones Industrial Average added 112.11 points, or 0.39%, to close at 28,606.31, rising by about 0.1% for …

Oil prices declined on Friday, amid concerns about the second wave of the COVID-19 pandemic and its impact on the global demand for energy. However, losses were marginal due to support from the commitment expressed by the OPEC+ alliance to output curbs. Brent crude futures for December delivery plunged by …