Brent crude oil prices rose on Wednesday, lifted by U.S. producers shutting most of their offshore output in the Gulf of Mexico ahead of Hurricane Laura and optimism over China-U.S. trade talks.
But gains were capped amid renewed concern over the coronavirus pandemic, which has squeezed fuel demand, after reports from Europe and Asia of patients being re-infected with COVID-19, raising concerns about future immunity.
“The hurricane impact is short-term bullish, but that could be short-lived if the damage to the Texas and Louisiana coasts cripples demand for an extended time,” said Edward Moya, senior market analyst at OANDA in New York. “Markets are currently pricing in a possible near-term catastrophic gasoline shortage,” said Stephen Innes, chief global markets strategist at AxiCorp.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Asian stocks boosted by fresh U.S.-China trade hopesAsian stock markets were mostly higher on Tuesday after the U.S and China indicated progress in trade talks, and as hopes of new coronavirus treatments boosted broader sentiment among global investors.
Weiterlesen »
U.S. and China hold phone call on phase one trade agreementThe trade negotiators' discussion came after a planned six-month review of the deal set for Aug. 15 was delayed to an unspecified date.
Weiterlesen »
U.S., China reaffirm commitment to Phase 1 trade deal after callTop U.S. and Chinese trade officials reaffirmed their commitment to the Phase 1 trade deal that has seen China lagging on its obligations to buy American goods, providing much needed relief to nervous markets on Tuesday.
Weiterlesen »
European stocks and Dow futures rise as U.S. and China report positive trade talksEuropean stocks climbed Tuesday, getting a boost from the U.S. and China holding trade talks.
Weiterlesen »
Dollar slips, trade-related currencies rise on successful U.S.-China phone callThe U.S. dollar fell and the Australian dollar and Chinese yuan rose after the United States and China both hailed a phone call between their senior trade officials as a success.
Weiterlesen »
U.S.-China Trade Talks Boost Global StocksGlobal stocks rose as investors cheered trade talks between U.S. and Chinese officials following weeks of escalating tensions
Weiterlesen »