Brent crude oil prices fell below USD30/bbl as the economic impact of COVID-19 intensified, economists at ANZ Research brief. Brent oil is currently trading at $29.574. Key quotes “The lockdown of cities around the world is pushing gasoline prices lower. Futures in New York fell 23% to their lowest level since 2005.” “Congestion levels in some major cities around the world is down sharply suggesting car use is falling sharply.” “The selloff extended into the jet fuel and diesel markets, with the prices also down sharply.” “Sentiment wasn’t helped by reports that Saudi Arabia plans to boost output even quicker. The Kingdom’s Energy industry said that it is tapping a new oil field to boost exports in April to more than 10mb/d. It has also told refiners that it plans to produce 12.3mb/d in the same month.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: Targets the September low at 1.1958 – Commerzbank FX Street 2 years Brent crude oil prices fell below USD30/bbl as the economic impact of COVID-19 intensified, economists at ANZ Research brief. Brent oil is currently trading at $29.574. Key quotes “The lockdown of cities around the world is pushing gasoline prices lower. Futures in New York fell 23% to their lowest level since 2005.” “Congestion levels in some major cities around the world is down sharply suggesting car use is falling sharply.” “The selloff extended into the jet fuel and diesel markets, with the prices also down sharply.” “Sentiment wasn’t helped by reports that Saudi Arabia plans to boost output even quicker.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
