Commercial crude stocks rose by 5.7 million barrels for the week ending July 1, 2020, while market expectations indicated a decrease of 3.1 million barrels instead. >
In addition to pressure on the demand side, risks regarding the second wave of HIV cases continue to keep global oil demand forecasts weak.
In its latest report, the International Energy Agency warned that while oil markets have undoubtedly been able to make progress since (Black April), the pace of cases has accelerated. In some countries it is a disturbing reminder that the epidemic is still out of control, as well as confirming negative expectations for market performance.
Despite these warnings, the agency raised its expectations, as demand is now expected to decrease by 7.9 million barrels per day in 2020 and increase it by 5.3 million barrels per day per year. 2021.
Gold prices above $ 1,800
Investors continued to store gold as a safe haven in light of expectations indicating that it will maintain its strength against the backdrop of the emerging Corona virus and the aftermath of the global economy.
Gold prices have increased by about 40% during the past 14 months, and the uncertainty caused by the pandemic has contributed to the strengthening of gold prices, which has prompted central banks to reduce prices Interest and flooding markets with cash.
Dollar Drop and Stability in Equity Performance
Various regions are currently facing high incidence of emerging coronavirus, especially in the United States of America, especially those with high population density such as Florida, Texas and California.
This prompted the American authorities to reduce efforts to reopen the ritual ...
