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Oil slides toward $60 ahead of OPEC+ meeting to boost global supply
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Good economic news is becoming a double-edged sword for markets | Hellenic Shipping News Worldwide
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Follow RT on Crude oil prices have weakened on Tuesday as OPEC and its allies are expected to decide how to proceed with the collective production cuts from April onwards. Futures in New York sank below $60 a barrel, dropping for a third day.
Both global crude benchmarks Brent and US West Texas Intermediate (WTI) were down more than one percent on Tuesday, trading at $62.89 and $59.92 per barrel at 08:42 GMT, respectively.
The oil-producing alliance led by Russia and Saudi Arabia will meet on Thursday to decide on easing supply curbs after prices posted their best-ever start to a year. Saudi Arabia has already called on the producers to remain
Publishing date: Feb 26, 2021 • February 26, 2021 • 4 minute read •
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(Bloomberg) In the face of surging copper prices, Carrier Global Corp. has a plan to contain costs: It’s hedging raw materials costs and then charging customers more for its heating, ventilation and air conditioning systems.
The Florida-based company’s strategy symbolizes the conundrum facing manufacturers as prices for commodities spike. With a path out of the pandemic in sight, corporate executives, economists and investors betting on a strong recovery face an acid test as producers try to shift the higher costs to consumers.
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Sun, 21 February 2021 | Written By: Alec Malloy
Alec Malloy is a content writer with over 7 years’ experience spanning a range of commercial sectors.
Week Ahead: US consumer confidence shaky while rising yields impact markets
Looking forward to the week ahead we see US consumer confidence on shaky ground, despite more stimulus coming soon. Rising yields will also potentially have big implications for the markets. Elsewhere, New Zealand’s economy looks like its gaining strength ahead of the RBNZ rate statement, while Airbnb leads large caps reporting next week with its first earnings call as a publicly traded company.
US consumer confidence
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