Long-term global oil demand remains strong, but problems in the industry will continue after the OPEC + deal to reduce production, said Mike Sommers, director general of the American Petroleum Institute (API). “Forecasts show that long-term demand for oil and natural gas around the world remains strong. In the coming weeks and months, significant problems will remain for our sector and almost...

The price of copper in 2020 will drop by almost 12% to $ 2.4 per pound, according to the Chile Copper Industry Commission (Cochilco). The country is the world’s largest producer of this metal. "The average price of copper in 2020 will be $ 2.4 per pound, which is 11.8% lower than 2019. During the current year, the price will move downward under pressure from growing stocks and excess metal......

The European Central Bank (ECB) is making every effort to support Italy and other Eurozone countries, whose economies have been hit hardest by the consequences of the SARS-CoV-2 coronavirus pandemic. The bank is currently actively buying government bonds for these countries. According to the Reuters news agency, in March 2020, the ECB invested €33.75 billion in the purchase of debt obligations of...

An apocalyptic picture is emerging in the winemaking industry due to a combination of several factors: new duties, crisis of overproduction, biological and climatic threats. In 2018, there were ominous signs in the form of global natural disasters. In the year 2019, the list of fatal threats included political risks. Either pondering the next manifesto of populism, or actually deciding to protect...

Coronavirus control measures, which universally resulted in lower raw material prices, have positively affected the cost of natural uranium. Mining companies are closing mines due to quarantine; as a result of last week, uranium prices jumped 13% immediately to $ 27 per pound. While most metals are getting cheaper amid falling demand, the cost of natural uranium has begun to rise. Spot prices for...

One of the largest cruise operators, the British-American Carnival, is going to attract additional financing in the amount of $6 billion to survive the crisis associated with the coronavirus pandemic and the suspension of cruises. Not only Carnival has difficulties. According to The Economist, the market has problems that are far more long-term and serious than even those in the air...

Oil prices on the physical market in the US have become negative: producers pay consumers to pick the oil up, Bloomberg writes. The first oil stream that turned everything upside down was the high-sulfur grade Wyoming Asphalt Sour, which is mainly used for bitumen production. In mid-March, the commodity trader Mercuria Energy Group asked for a price of minus 0.19 cents per barrel, in fact...

The US Secretary of State spoke on the phone with the Crown Prince of Saudi Arabia, urging him to calm the world’s energy and financial markets. Thus, the United States has intervened in a price war between the kingdom and Russia, writes Bloomberg. The United States directly intervened in the price war between Saudi Arabia and Russia, urging Riyadh to calm the energy and financial markets in...

On Tuesday, gold went up by 6%. This is the most significant one-day price increase since 2009. The price increase was the largest in the history of observations. On March 24, gold went up by 6%. There has been no such a strong increase in prices since March 2009. In monetary terms, the value added $ 93.2 and reached $ 1660.8 after deduction, and there has never been such a noticeable increase...