Reuters NEW YORK -Oil prices slipped on Monday as the positive impact from COVID-19 vaccine news and an OPEC+ deal on oil production cuts was undermined by surging coronavirus cases and heightened tensions between the United States and China. Brent crude fell 16 cents to $49.09 a barrel by 11:17 a.m. EST (1617 GMT). U.S. crude fell 18 cents to
Reuters LONDON/BENGALURU- Gold’s record rally is moving tantalisingly close to the psychologically key $2,000 level, powered by investors seeking cover from COVID-19’s global economic toll, as reflected in dollar weakness, faltering stocks and U.S.-China trade tensions. Spot gold prices XAU= have surged 53% in the last 14 months, blowing past 2011’s record high of $1,920.30 an ounce to an all-time
Reuters SINGAPORE/LONDON – Oil prices edged higher on Monday helped by a weak dollar and expected U.S. stimulus measures but gains were capped by rising global coronavirus cases and tensions between the United States and China. Brent crude LCOc1 rose 32 cents, or 0.7%, to $43.66 a barrel by 1205 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was
Reuters LONDON – Oil prices edged higher on Friday, supported by a weaker dollar, though tensions between the United States and China and wider economic uncertainty weighed. Brent crude was up 10 cents at $43.41 a barrel at 1323 GMT, while U.S. West Texas Intermediate (WTI) crude was up 18 cents at $41.25. China ordered the United States to close
Reuters LONDON – The abrupt closure of China’s consulate in Houston marks the latest incident in a rapidly escalating conflict between China and the United States. Future historians will probably focus on 2020 as the point when intensifying strategic competition between the United States and China turned into a new cold war. The two superpowers are now engaged in conflict
Reuters LONDON – Oil fell on Monday on worries about renewed tensions between the United States and China, although reports that OPEC and Russia were closer to a deal on extending oil output cuts lent some support to prices. Benchmark Brent crude LCOc1 was down 46 cents, or 1.2%, at $37.38 a barrel at 1331 GMT. U.S. crude CLc1 fell
CNBC Oil prices fell on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong. A potential deterioration in relations between the world’s two biggest economies could ratchet up the pressure on global businesses and oil demand already weakened by the coronavirus pandemic. Brent crude fell $1.69, or 4.7%,
Reuters LONDON – Oil fell over 4% on Friday to below $35 a barrel on rising U.S.-China tensions and doubts about the pace of demand recovery from the coronavirus crisis, although it remained on course for a weekly gain. China is set to impose new national security legislation on Hong Kong, prompting a warning from U.S. President Donald Trump. Beijing
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