Russia Begins Hoarding Cash as Oil Uncertainty Continues
Russia now has about $550 billion of cash reserves stashed away for a rainy day. The COVID-19 virus continues to wreak havoc on major countries of the world.
Fall in Oil Prices – Meeting Between Saudi Arabia and Russia on Output Cuts Is Delayed
Oil prices slipped in the early hours of the start of the trading week today.
Exxon Mobil Stock Under Pressure on Oil Prices Dilemma
Exxon Mobil (NYSE: XOM) stock price continues to make big price swings as oil producers are taking a long time to reach a consensus over oil supplies.
Oil Gains, Walls Street Surges as Trump Tweets Encouragements
The prices of oil have boomed today amidst gloomy week of consolidations.
Oil Jumps by 25% After Trump Calls for Saudi, Russian Production Cuts
WTI crude oil surged nearly 25% today after President Trump said he expects Russia and Saudi Arabia to soon announce production cuts
Crude Oil Hits 18-Year Low
Oil prices have dropped massively to an all time low, since the start of the Coronavirus outbreak.
More Trouble for US Economy as USD Plummets and Gold Rises
Following the release of the US jobless claims, gold pushes higher in the market.
Gold Gains Before EU Summit
EUR/USD is rising slowly as forex traders bet European leaders would take strong and solid steps this week to solve the region’s debt problems. Analysts think the downside is limited for now but investors find it difficult to trade while there is uncertainty in the market. Some investors still think the eurozone economy will go […]
GBP Slides of Data, Oil Soars
The major mover in the currency market on Wednesday was the sterling, which sold off against the dollar following a series of weaker than expected economic reports. The rest of the major currency pairs remained within a narrow trading range versus the greenback. Crude oil soared to its highest level in 7-weeks above the $66/barrel […]