20.3 C
New York
Tuesday, June 15, 2021

Oil falls further amid growing alarm over coronavirus second wave

Must read

DHFL lenders to decide payout for small investors

(This story originally appeared in on Jun 15, 2021)Mumbai: The National Company Law Tribunal, which approved Piramal Group's resolution plan for DHFL last...

Gold little changed as markets await US Fed meeting

Spot gold was flat at $1,866.15 per ounce, as of 0052 GMT, after falling to its lowest since May 17 at $1,843.99 on Monday.

Oil rises as threat of immediate Iran supply recedes

Brent crude was up by 43 cents, or 0.6%, at $73.29 a barrel by 0134 GMT, having risen 0.2% on Monday. U.S. oil gained...

Ahead of Market: 12 things that will decide stock action today

NEW DELHI: As investors await the results of a Federal Reserve policy meeting before making any major new bets, Asian stocks were trading mixed...

TOKYO: Oil futures fell further on Wednesday after big declines the previous session with Brent sliding below $40 a barrel for the first time since June as COVID-19 cases rebounded in several countries.

The biggest global health crisis in a century continues to flare unabated with cases rising in India, Great Britain, Spain and several parts of the United States, where the infection rate has not come under control for months.

The outbreak is threatening hopes for a global economic recovery that could impact demand for fuels from aviation gas to diesel.

Brent crude was down 16 cents, or 0.4%, at $39.62 a barrel by 0241 GMT after declining more than 5% on Tuesday.

U.S. crude was down 24 cents, or 0.7%, at $36.52 a barrel, having fallen nearly 8% in the previous session.

“Stalling demand has been a concern for most in the market for a while (and) it is becoming more evident,” ING Economics said in a note.

Record supply cuts by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+ have helped support prices, but with grim economic figures being reported almost daily, the outlook for demand for oil remains bleak.

China’s factory gate prices fell for the seventh straight month in August although at the slowest annual pace since March, suggesting industries in the world’s second-biggest economy continued their recovery from the coronavirus-induced downturn.

- Advertisement -

Latest article

DHFL lenders to decide payout for small investors

(This story originally appeared in on Jun 15, 2021)Mumbai: The National Company Law Tribunal, which approved Piramal Group's resolution plan for DHFL last...

Gold little changed as markets await US Fed meeting

Spot gold was flat at $1,866.15 per ounce, as of 0052 GMT, after falling to its lowest since May 17 at $1,843.99 on Monday.

Oil rises as threat of immediate Iran supply recedes

Brent crude was up by 43 cents, or 0.6%, at $73.29 a barrel by 0134 GMT, having risen 0.2% on Monday. U.S. oil gained...

Ahead of Market: 12 things that will decide stock action today

NEW DELHI: As investors await the results of a Federal Reserve policy meeting before making any major new bets, Asian stocks were trading mixed...

Adani Group says no freeze on accounts of three foreign investors

Adani Group on Monday denied that the National Securities Depository Ltd (NSDL) had frozen accounts held by three offshore funds which own stakes in...