Oil rebounds on back of ECB bond scheme
Despite today’s recovery, analysts predict that oil prices will remain at multi-year lows for some time. – EPA pic, March 19, 2020.
OIL prices rebounded strongly today, a day after US crude hit its lowest level in 18 years, as the European Central Bank launched a bond-buying scheme to combat the coronavirus pandemic. US benchmark West Texas Intermediate was up almost 17% at nearly US$24 a barrel, a day after plunging 24%. Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil crash piles pressure on virus-hit Saudi economy | The Malaysian InsightMany are looking to convert substantial cash into gold bars, coins.
Read more »
Sarawak palm oil sector gets permission to keep operating | The Malaysian InsightExemption conditional upon the estates, mills and refineries meeting three requirements, says association.
Read more »
Ringgit continues its decline as oil falls below US$30 per barrel | Malay MailKUALA LUMPUR, March 18 — The ringgit remains under pressure as crude oil price plunges to below US$30 (RM131) per barrel, while Covid-19 continues to throttle global demand for oil. As at 6pm, the ringgit was quoted at 4.3737/3844 compared with 4.3480/3530 yesterday, while the benchmark Brent...
Read more »
Oil slumps to lowest since 2003 on global recession threatMizuho Securities warns crude prices could go negative as Russia, Saudi Arabia flood market with supply. FMTNews MizuhoSecurities Oil
Read more »
Exxon pledges 'significant' spending cuts amid virus, oil slideOutbreak sends largest US oil producer’s shares tumbling down to a 17-year low. FMTNews Exxon
Read more »
Demand collapse pins oil near US$30 amid deepening global routRestrictions on movements of people led to the biggest drop in US gasoline prices since 2005. FMTNews US
Read more »