Market News

Prospects that supply would outstrip demand for oil for several months resulted in two of the wildest oil trading days in history this week. U.S. West Texas Intermediate crude futures closed at …

According to the International Monetary Fund on Tuesday, the global economy is expected to shrink by 3.0% during 2020 amid the drop-in activity from the coronavirus that will mark the steepest downturn since the Great Depression of the 1930s.

Equity investors were encouraged as the death toll from the virus slowed in major European countries including France, Italy and New York.  The S&P 500 was on track to recoup about $1 trillion in market value on Monday after New York, the biggest US hot spot for coronavirus reported a fall in daily. 

Global oil prices have fallen by roughly two-thirds this year as the coronavirus pandemic slammed global economies and major producers Saudi Arabia and Russia started to flood the market with oil.

The bloc has already suspended state aid rules and limits on public borrowing to allow member states to spend freely to cushion the economy from the impact of the coronavirus.  Amongst the measures, the European parliament on Thursday…

Russia and Saudi Arabia have been fighting over oil market share after their three-year agreement to hold back production collapsed this month.  At this time of reduced global demand amid the spread of the coronavirus their pumping of crude oil flat out pushed crude prices to near 20 year lows this week.

On Monday the main indexes on Wall Street nosedived by 7 percent whilst Dow Jones Industrials crashed 2,000 points, in its biggest one day fall ever, as trading resumed after a 22 percent slump in oil prices.  Furthermore, trading in US stock exchanges was halted…

In an emergency move the FED cut interest rates on Tuesday by 50-basis points to a target range from 1 percent to 1.25 percent to mitigate the widening economic fallout of the coronavirus. 

Global share markets headed for the worst week since the levels reached in the 2008 financial crisis as investors dumped risky assets amid fears that the coronavirus would become pandemic and would set economic growth off track. 

In order to limit the impact from the Coronavirus, on Monday, China’s Central Bank lowered borrowing costs for the medium-term loans paving the way for a reduction to the lending benchmark rate on Thursday.  In fact on Thursday China cut the benchmark lending rate…

On Wednesday OPEC cut its forecast for global growth in oil demand this year amid the coronavirus outbreak and said its output fell sharply in January as producers implemented a new supply-limiting pact.  Furthermore, in a report, OPEC said the demand for 2020…

As the coronavirus continued to hit the news, China’s central bank unexpectedly lowered the interest rates on reverse repurchase agreements by 10 basis points on Monday, as authorities have stepped up measures…