Market News

    U.S. oil crashes below $20 on record demand plunge

    WTI Crude prices tumbled early on Wednesday to below $20 a barrel, after the International Energy Agency warned of a record oil demand slump this year, adding additional bearish tilt to the market which is already digesting huge U.S. inventory builds and too-little-too-late OPEC++ actions to support prices.  

    Some Asian economies to avoid recession, says IMF

    HONG KONG • Some of Asia's biggest economies are likely to narrowly avoid recession this year and are poised to bounce back strongly next year if the coronavirus is contained, said the International Monetary Fund (IMF), with China leading the recovery.