Oil prices finished higher Wednesday, buoyed by a weekly decline in U.S. crude production, as investors grow hopeful that major oil producers will agree to output cuts this week.
BEIJING, April 9 (Xinhua) -- China's passenger car market saw a strong month-on-month rebound in March as business resumption gained momentum amid further containment of the novel coronavirus disease (COVID-19) epidemic.
China's March passenger car sales fell 41% Y/Y in March to 1.08M units, according to data released by the China Passenger Car Association. The sharp drop wasn't surprising amid the efforts to control the COVID-19 outbreak.
The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism about tomorrow’s virtual OPEC++ meeting.
Contrary to the grim forecast by ANRPC (Association of Natural Rubber Producing Countries), natural rubber (NR) price in India has looked up this week, on cues from Opec’s (Organisation of Petroleum Exporting Countries) decision to cut crude output. On ICEX (Indian Commodity Exchange), the April rubber contract has almost hit initial upper limit, touching Rs 118 per kg on Monday, where it was expected to fall below Rs 100 per kg.
Tokyo Commodity Exchange (TOCOM) futures rose for a fourth session on Wednesday, hitting a more than 2-week high, supported by a rally in Shanghai futures, although it gave up some gains in late trade.