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Saudi Arabia announces $32 billion in emergency funds to mitigate oil, coronavirus impact

Saudi Arabia’s government unveiled stimulus measures amounting to 120 Saudi billion riyals ($32 billion) on Friday to support an economy hit by the double blow of the coronavirus crisis and dramatically lower oil prices.

read more... 23/03/2020

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Daily (23.03.2020): Carbon prices dropped by over 26% on a weekly basis on Friday, due to increased coronavirus concerns

Crude oil futures extended losses on Friday, being on track for their biggest weekly decline in 12 years, on worries about the coronavirus pandemics that slowed down global economies and curbed oil demand. The failure of coordinated output cuts by producers from the OPEC and others including Russia, also put pressure on prices. Hence, Brent crude plunged by 5.2%, to settle at $26.98 a barrel. At the same time, WTI futures tumbled by 10.3% to $22.63 a barrel.

read more... 23/03/2020

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Daily (20.03.2020): Oil prices regained ground on Thursday after significant declines, supported by stimulus measures

Crude oil futures rebounded on Thursday, buoyed by supportive measures from centrals banks and governments to combat the economic fallout from the coronavirus pandemic .Moreover, Trump administration reportedly said it may intervene in the oil-price war between Saudi Arabia and Russia. However, analysts consider the climb more symbolic, rather than a clear signal that prices are ready for a sustained rebound.

read more... 20/03/2020

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Daily (19.03.2019):Crude oil prices at 18-year lows and carbon prices down at 15 euros per tonne on continued coronavirus concerns

Crude oil prices hit 18-year lows on Wednesday, as governments force local lockdowns in response to the coronavirus outbreak, affecting global oil and fuel demand. Brent crudeplunged by 13.4% to $24.88 a barrel. WTI futures traded 24.4% down at $20.37 a barrel.

read more... 19/03/2020

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Russia sees oil and gas revenue drop nearly $ 40 billion

Russia’s oil and gas revenue will be $ 39.5 billion (3 trillion rubles) less than expected due to falling oil prices Russian Finance Minister Anton Siluanov said on Wednesday, adding that Russia’s budget will be in deficit this year.

read more... 19/03/2020

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