MELBOURNE/SINGAPORE (Reuters) - Oil prices fell on Tuesday, erasing earlier gains, on concerns that the surge in coronavirus cases in the United States, the world’s biggest oil user, will limit a recovery in fuel demand.
SINGAPORE (Reuters) - The dollar nursed losses on Tuesday and riskier currencies added a fraction to galloping gains, after better-than-expected U.S. services data provided the latest boost to confidence in a worldwide economic recovery from the COVID-19 pandemic.
NEW YORK (Reuters) - Asian markets looked set to rise on Tuesday as investors weighed growing expectations of an economic rebound in China and a resurgent U.S. services industry, brushing off worries about a spike in U.S. coronavirus cases.
Despite the continued bearish sentiment, oil markets saw a bit of support over the past week, resulting from the sharp decline in the crude oil inventories as reported by the EIA. Last Thursday, prices Brent hit its highest level since March at $43.23, closing at $42.78, up by 4.11% w/w, while WTI closed at $40.32, up by 4.54% w/w, with a spread of $2.46 which narrowed by $0.07 w/w.
Monday, Jul 6. MUMBAI – Following are highlights from trading in rubber market today:
KUALA LUMPUR (July 6): The top four Malaysian rubber glove players are expected to increase their capacity by 16% in 2020, according to Hong Leong Investment Bank (HLIB) Research.