Fast-spreading coronavirus wreaks havoc on global markets. FMTNews OIL VIrus OPEC
SINGAPORE: Oil was on course for its biggest weekly loss since 2011 as the fast-spreading coronavirus roiled global markets, intensifying speculation that OPEC and its allies will strike a deal to support prices.
The group’s top official said the cartel and its allies are displaying a “renewed commitment” to reach an accord as the virus puts the world economy on course for its worst performance since 2009. “If OPEC+ cuts by 1 million barrels, that can shore up prices a little, but anything less is going to disappoint.”
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.
Asian marts hammered over Covid-19 fears | The Malaysian InsightVIX ‘fear’ index now at highest level since 2011 during European debt crisis.
Read more »
Mekong River patrols help ensure safety of marinersBEIJING (China Daily/ANN): In November 2011, China, Laos, Thailand and Myanmar agreed to set up a joint command of armed police forces to escort commercial vessels on the Mekong River.
Read more »
Political impasse drags Bursa Malaysia into red | The Malaysian InsightEnergy, construction worst-hit counters as infrastructure projects hang in the balance.
Read more »
Umno denies urging MPs to boycott special Monday sittingAnnuar Musa responds to a news report of him questioning Mahathir's move. FMTNews AnnuraMusa Umno DewanRakyat
Read more »
Egypt to bury Mubarak with military honoursNSTworld: Generals and soldiers congregated at Cairo’s Mosheer Tantawi mosque, where cannons stood ready for a 21-gun salute to bid farewell to the former air force commander. HosniMubarak Egypt
Read more »
European shares tumble to 4-month low as virus risks intensifyTravel stocks, financial services, chemical and technology stocks were among the worst hit. FMTNews Stock
Read more »