Oil Prices Continue to Dip as COVID-19 War Wages On
The OPEC+ has agreed to cut supply by about 7.7 million barrels per day for the rest of this year while maintaining a supply cut of 5.8 million barrels per day starting in 2021.
Gold Price Plunges 5% Even As Treasury Yield Rises on Positive Coronavirus Vaccine Efforts
By Tolu Ajiboye
Gold hit its worst single-day decline as its price fell more than 5% but Treasury yields increased. Analysts have tied this movement to the progress in the development of COVID-19 vaccines.
Oil Prices Rise as Saudi Arabia Pledges Further Production Cut
With the decline in oil demand due to the Covid-19 crisis, Saudi Arabia has pledged to further cut its production rate. Oil prices surged as a result of this news.
Saudi Arabia-Russia Oil Standoff Pushes Oil Prices to 17-Year Low, Coronavirus Hits Demand
Despite the pressure from Washington, Saudi Arabia and Russia failed to come into a common agreement of oil supply cut to stabilize the price. The crude oil price has dipped to its lowest in 17 years. Oil is trading at $23.03 on Monday morning.