• Contact
  • Privacy Policy
Blacksonrise.com
DONATE
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
Blacksonrise.com
No Result
View All Result

Oil prices slip as surging COVID-19 cases overshadow vaccine hopes – SABC News

blacksonrise by blacksonrise
November 19, 2020
in Africa Business
0
Oil prices slip as surging COVID-19 cases overshadow vaccine hopes – SABC News
0
SHARES
131
VIEWS
Share on FacebookShare on Twitter

US crude futures fell in early trade on Thursday, giving up some of gains from the previous day as surging COVID-19 cases and widening lockdowns raised fears over fuel demand, offsetting further upbeat vaccine news.

US West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.9%, to $41.43 a barrel by 0039 GMT, after gaining nearly 1% on Wednesday. Brent crude was yet to trade, having risen 1.4% on Wednesday.

“The spread of coronavirus infection and fresh restrictions in the United States and other parts of the world hit market sentiment as it would hamper fuel demand,” said Kazuhiko Saito, chief analyst at Fujitomi Co.

“Investors are also booking profits from the recent rally before the US Thanksgiving holiday later this month,” he said.

The US death toll from COVID-19 approached 250 000, as New York Mayor Bill de Blasio announced the country’s largest school district will halt in-person learning in the latest major restriction to curb soaring COVID-19 infections.

Daily coronavirus cases in Tokyo and South Korea hit fresh highs, as pollution-cloaked New Delhi struggled with rising cases and Australia reported a highly contagious virus strain which forced a state-wide lockdown.

Worries about coronavirus-related economic damage took over vaccine optimism stoked by the announcement by Pfizer and BioNTech that they could secure emergency US and European authorization for their COVID-19 vaccine next month after final trial results showed it had a 95% success rate and no serious side effects.

Advertisements

On the upside, the US crude inventories rose 768 000 barrels last week, less than analyst expectations in a Reuters poll for a 1.7 million-barrel rise, government data showed. Distillate stockpiles, which include diesel and heating oil, fell by 5.2 million barrels, far exceeding expectations.

“Still, lingering worries over a global supply glut, especially with the COVID-19-hit economies, will likely limit upside of oil prices,” Fujitomi’s Saito said, predicting WTI to be traded between $40 and $42 a barrel until the OPEC+ meeting later this month.

OPEC+, comprising the Organization of the Petroleum Exporting Countries, Russia and other producers, is due to discuss policy at a full ministerial meeting to be held on November 30 and December 1.

Credit: Source link

Previous Post

RED grants supporting Kimberley economic recovery

Next Post

Second covid19 case at Hall of Justice

Next Post
Second covid19 case at Hall of Justice

Second covid19 case at Hall of Justice

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

HOT Updates

Caricom knocks Venezuela over Guyana dispute
Caribbean Business

Caricom knocks Venezuela over Guyana dispute

January 13, 2021
Senate Republicans adrift ahead of Trump trial
African American News

Senate Republicans adrift ahead of Trump trial

January 16, 2021
African American News

Kamala’s Way review: Harris as symbol of hope – and hard politics | Kamala Harris

January 17, 2021
Healing story | The Monthly
Aboriginal Australia Business

Healing story | The Monthly

January 13, 2021
Principals condemn George Street murder
Caribbean Business

Man found shot dead in Laventille

January 16, 2021
Australia Day planning in full swing
Aboriginal Australia News

Australia Day planning in full swing

January 18, 2021
Mexico To Ensure Undocumented Migrants In U.S. Have Access To Vaccines
Afro Latino News

Mexico To Ensure Undocumented Migrants In U.S. Have Access To Vaccines

January 13, 2021
Awesome Online Events Happening This Week In Southern California: Jan. 11
African American News

Awesome Online Events Happening This Week In Southern California: Jan. 11

January 14, 2021
Recovery: What Are We Talking About?
Caribbean News

Recovery: What Are We Talking About?

January 13, 2021
NPP Ashanti Region thank Akufo-Addo for retaining Frema Opare
African News

NPP Ashanti Region thank Akufo-Addo for retaining Frema Opare

January 14, 2021
Gorgeous Afro-Latina Sisters Pitch Makeup To A-Rod on Shark Tank
Afro Latino News

Gorgeous Afro-Latina Sisters Pitch Makeup To A-Rod on Shark Tank

January 16, 2021
Free State announces plans to revive provincial tourism industry – SABC News
Africa Business

Employees in Little Karoo’s tourism industry lose incomes as industry takes a knock – SABC News

January 13, 2021
Oil drops over 2% on China lockdowns, US stimulus concerns – SABC News
Africa Business

Oil drops over 2% on China lockdowns, US stimulus concerns – SABC News

January 15, 2021
Molefe places Ramaphosa at the centre of unjustifiable Glencore coal contract – SABC News
Africa Business

Molefe places Ramaphosa at the centre of unjustifiable Glencore coal contract – SABC News

January 15, 2021
Alcohol industry to apply for deferment of excise tax payment – SABC News
Africa Business

Alcohol industry to apply for deferment of excise tax payment – SABC News

January 13, 2021
Brooklyn Dem Party leader weds compatriot on historic Haitian Independence Day
Caribbean News

Brooklyn Dem Party leader weds compatriot on historic Haitian Independence Day

January 14, 2021
Work hard, adapt, dream: advice from Papua New Guinea’s SMEs
Papua New Guinea Business

Work hard, adapt, dream: advice from Papua New Guinea’s SMEs

January 12, 2021
World Bank to invest $5 billion in 11 African countries – SABC News
Africa Business

World Bank to invest $5 billion in 11 African countries – SABC News

January 12, 2021
Uganda’s Museveni declared winner of presidential poll, rival alleges fraud – SABC News
African News

Uganda’s Museveni declared winner of presidential poll, rival alleges fraud – SABC News

January 16, 2021
Caribbean Life: Brooklyn Edition: January 15, 2021
Caribbean News

Caribbean Life: Brooklyn Edition: January 15, 2021

January 15, 2021

BlackSonRise.com is an online news portal which aims to provide Caribbean News, African News, Business and much more stuff like that. Feel free to get in touch with us!

Follow us on social media:

Recent News

  • Maine Mesothelioma Victims Center Has Endorsed Attorney Erik Karst of Karst von Oiste to be a Compensation Game Changer for a Navy Veteran or Shipyard Worker with Mesothelioma in Maine – African American News Today
  • Farmers can’t afford to increase workers’ salaries: TAU SA – SABC News
  • Global Arts Market Outlook Reveals Augmented Reality To Be The Latest Trend In The Industry – African American News Today

Subscribe NOW

Loading
  • Contact
  • Privacy Policy

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Videos
    • Blacksonrise Interviews
    • Blacksonrise News
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

USD $
  • USD USD $
  • EUR EUR €
  • GBP GBP £