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13 Mar 2020

Saudi Arabia floods markets with $25 oil amid price war with Russia

Reuters quoted five trading sources said on Friday, saying that Saudi Arabia is flooding markets with oil at prices as low as $25 per barrel.

The Saudi move is mainly targeting big refiners of Russian oil in Europe and Asia, as it seeks to escalate the price war with Moscow for market share.

The sources said that Saudi state oil company Aramco told them it would supply all requested additional volumes in April.

Oil reaction

Oil prices have moved-off low, still defending gains amid risk-on market mood. WTI trades close to $32, having hit a daily high of $33.87 and a daily low of $31.15.

Mar 13, 2020

BoC's Poloz: Storm is temporary but events could be prolonged

Commenting on the Bank of Canada's surprise decision to cut the policy rate by 50 basis points, Governor Poloz said the policy action is meant to butt
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Mar 13, 2020

Gold Price Analysis: XAU/USD hammered down, trades in 10-week’s lows, nearing $1500/oz

Gold is trading in a bull trend above the main SMAs. However, this week the market is on track to record its worst weekly decline since September 2011, erasing
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