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Monday, April 6, 2020 - 7:07:41 PM
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Mining News Pro - Suspension of negotiations between Saudi Arabia and Russia over oil production cut has caused concern persist.
According to Mining News Pro - While corona cases and deaths have a decreasing trend and strengthened stock market indices, oil price saw a sharp drop.
Exchange Markets
Following the hospitalization of England’s Prime Minister because of coronavirus, sterling value dropped.
Sharp Drop of Oil Price
After the suspension of negotiations between Russia and Saudi Arabia, oil price decreased to $3 per barrel.
“It’s clear that coronavirus pandemic is the reason for market fluctuations,” said Michael McCarthy, analysist at CMC Markets.
In Asian markets, the Australian stock index rose half a percent. Japan’s Nikkei and South Korea’s KOSPI increased by 0.2% and 1.4%, respectively.
North Sea Brent Oil price dropped by 2.64 dollars and stayed at $21.33 per barrel. Also, West Texas Intermediate price reached $21.17.
US president, Donald Trump said that there is the possibility to apply tariff on oil imports for supporting US oil industry.
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https://www.miningnews.ir/En/News/511270
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