EFCG

23/04/2020

22/04/2020

DAILY NEWS ....

Brent crude rebounds from more than 20 year low; U.S oil up 20% in wild trade.

Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some expected.

U.S. futures fell deep into negative territory on Monday, closing at a record minus-$37.63 a barrel. Early on Wednesday, Brent touched its lowest level since June 1999.

Since the start of the year, Brent has fallen about 65%, while WTI has dropped around 75%.

U.S crude oil inventories rose by 15 million barrels last week, in line with analysts' expectations, though some had predicted a build of more than 20 million barrels.

22/04/2020

EU leaders to take step to joint financing of post pandemic recovery.

BRUSSELS (Reuters) - European Union leaders will move on Thursday towards joint financing of a recovery after the COVID-19 pandemic by asking the European Commission to propose a fund sufficiently big for the job that targets the most affected sectors and regions.
Many leaders see the massive joint recovery financing as a crucial tool of EU solidarity as some in the 27-nation bloc will have a harder time than others regaining their economic footing after the deepest-ever EU recession this year.

22/04/2020

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