Image default
Greek News

Oil prices continue to plummet amid coronavirus crisis

Prices of US crude oil in New York have plunged to levels not seen for more than two decades, now hovering just under $15 a barrel.

US crude (WTI) fell 24% to $ 13.87 a barrel, while slow Brent crude fell 4% to $27 a barrel.

There are concerns about rising US reserves, which has led to the disconnection of US crude from Brent. However, neither of the two agreements received substantial support from the historic agreement between OPEC and Russia to reduce world production by 10%.
Investors believe this came too late at a time when the global economy is experiencing a deep recession due to the coronavirus pandemic.

Oil demand has plummeted and analysts believe there is no hope of recovery on the horizon any time soon.

At the same time, Wall Street futures are falling -1.5% while in Europe there is a downward trend with the DAX in Germany falling by -0.6%, as well as the FTSE MIB in Milan.

Σχετικα αρθρα

Greek products excluded from revised US tariffs list against EU

admin

The World’s Biggest Arms-Producing Companies (infographic)

admin

Greek state budget showed primary surplus of 595 million Euros in January-March

admin

Greek growth-rates revised upwards

admin

Where the EU imports its clothes from (infographic)

admin

Cathay Pacific lost 20 percent of value in 6 months (infographic)

admin

Greece: Key axes of development policy for economy were presented at government’s Economic Policy Council

admin

The Trillion-Dollar Smartphone Economy

admin

IMF predicts shocking 10% recession for Greece in 2020 due Covid-19 crisis

admin

Greece records largest drop in house prices and rents in Europe during last 12 years

admin

Unemployment Rate in U.S Jumps to Highest Level Since WWII (infographic)

admin

Video Game Sales skyrocket to Decade High due to COVID-19 Crisis (infographic)

admin

Mobile ad spending to surpass desktop by 2022 (infographic)

admin

Greece successfully auctioned six-month bonds

admin

The Mitsotakis fiscal revolution: Daily Telegraph

admin

Greece’s Aegean airline seeks bailout from coronavirus hit

admin

Coronavirus set to impact tech industry shipments (infographic)

admin

The financial incentives for electric cars

admin