Oil prices jump on world markets
BAKU: Oil prices have increased on the world markets, reported Azerbaijan State News Agency. On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil raised $2.14 to trade at $22.51, while the price of Light crude oil at the NYMEX (New York Mercantile Exchange) increased $1.58 to stand at $15.36.
Oil prices depressed, remain below $40
KUALA LUMPUR: Market participants are doubtful that a historic one-year oil production cut pledged by major producers recently would solve the oversupply problem. For the week just ended, the West Texas Intermediate crude for May delivery lost 8.1 per cent to settle at $18.27 per barrel on the New York Mercantile Exchange. In contrast, the global benchmark, Brent […]
Default rates to rise due to recessions
KUALA LUMPUR: Moody’s Investors Service expects the global default rate to rise to 10.6 per cent at end-2020 and edge higher to 11.3 per cent by end-March 2021 compared with the March 2020 level of 3.5 per cent. It said the forecast is underpinned by the expectation of recessions in many large economies, following the unprecedented turmoil in the financial […]
Oil prices down after Opec production cut deal
ANKARA: Crude oil prices were down during Good Friday’s thin trading following Opec’s output curb decision on Thursday, reported Anadolu Agency. International benchmark Brent crude was at $31.82 per barrel at 0640 GMT on Friday, down 3.1 per cent for the day after closing Thursday at $32.84 a barrel. American benchmark West Texas Intermediate (WTI) was at […]
Plunging oil prices to suppress inflation
KUALA LUMPUR: RAM Rating Services Bhd’s (RAM Ratings) overall outlook on domestic inflation for this year has become significantly more dovish amid the plunge in global oil prices. It said while the inflation rate is envisaged to remain largely unchanged at 1.5 per cent in February, the rating agency anticipates it to shift lower through the […]
