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Kuwaiti Minister of Oil and Minister of Electricity and Water Khaled al-Fadhel stated in an interview with Al-Rai on Wednesday that OPEC+ members are currently discussing crude oil output cut measures in the range of 10 million barrels per day (bpd) to 15 million bpd.

The minister said the idea behind the cuts is to "restore balance to markets and prevent further decline in prices during the coming period." The reduction in output would come from the current global production of 100 million bpd worldwide, he stressed.

On Thursday, OPEC+ will hold a virtual meeting to discuss oil output once again after talks in early March failed and resulted in a price war.

Breaking the News / VP

In the share price inn the closing minutes of trade
Real time quote 134.3 + 5.46%

Following a strong session on Tuesday, European shares were lower in premarket trade on Wednesday as concerns over the economic impact of the coronavirus continue to linger.

In Italy, the pandemic has shown signs of slowing down while in Wuhan, the original epicenter of the outbreak that has rocked the globe, travel restrictions have been lifted. However, some projections indicated the crisis could claim many more lives in its first wave.

The DAX was just below the flatline at 7:30 am CET, while the FTSE 100 lost 0.52%. At the same time, the euro declined 0.17% against the dollar, buying 1.08755.

Breaking the News / JC

European shares traded higher in the premarket on Tuesday as countries across the continent continued handling the coronavirus crisis. Italy has secured €400 billion to support businesses affected by the pandemic. Meanwhile, Deutsche Bank estimated the United Kingdom's GDP will fall 6.5% this year. In business news, Airbus informed it won't resume its production in Germany yet due to the virus spreading.

The DAX grew 1.04% at 7:30 am CET, while the FTSE 100 concurrently gained 0.23%. The CAC 40 rose 0.93% at 7:37 am CET.

The euro was up 0.31% against the dollar to go for $1.08257, while the pound advanced 0.32% to sell for $1.22716 at 7:31 am CET.

Breaking the News / ND

Futures of West Texas Intermediate (WTI) crude oil jumped over 3.5% after United States President Donald Trump stated he would consider telling US producers to cut production if asked to do so by the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, including Russia. However, Trump stressed that US production has already been cut as a result of the coronavirus demand drop.

WTI for May gained 3.22% at 9:08 pm ET to go for $26.92 per barrel. The US crude is up 33.66% for the week, but still 55.85% lower since the start of the year amid the COVID-19 pandemic and the Russian-Saudi price war.

Meanwhile, Brent for June increased 2.18% to $33.77 per barrel at 9:11 pm ET.

Breaking the News / VP

I just listened to the lunchtime news on bbc1 and the reader said that they while the death toll is expected to rise in the coming week the government believes that the cases and deaths will begin to reduce. Also that the lockdown will be reviewed within two weeks which may be an opportunity for some relaxation of the enforcement.
I’m earring on the optimistic but hopefully Boohoo will gain in the run up to their numbers day on April 20th.

Gold rose over 1% on Monday supported by the escalating global economic crisis fueled by the coronavirus pandemic.

Over 70,000 people have died so far as a result of the virus, while nearly 1,300,000 cases have been reported worldwide.

Gold jumped 1.50% to $1,642.70 per ounce at 7:25 am ET. In euros, the yellow metal was climbed 1.50% to €1,519.83 per ounce. Meanwhile, silver was up 1.75% to $14.65. At the same time, platinum advanced 1.38% to $734.72 an ounce as palladium lost 0.58% to $2,162.41.

Breaking the News / JC

Russia and Saudi Arabia are "very close" to reaching a deal on oil output cuts after weeks of a price war that drove crude prices dramatically lower, Chief Executive Officer of Russia’s sovereign wealth fund Russian Direct Investment Fund said on Monday.

"I think the whole market understands that this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close," Dmitriev told CNBC.

The RDIF chief also said that countries need to act on stabilizing oil markets amid the coronavirus-induced recession. "I think it’s Russia, Saudi Arabia, US, other countries that need to step in to stabilize the markets and to bring stability in the world that is about to see probably the greatest recession ever," he concluded.

The OPEC+ virtual meeting on production cuts has been rescheduled for April 9.

Breaking the News / JC

European equities surged in premarket trade on Monday as the coronavirus continues to remain in focus. Across the Atlantic, stocks on Wall Street moved higher as well with the Dow soaring over 700 points overnight.

Globally, over 1.2 million people have been infected with the virus, which originated in China in December of last year. Meanwhile, a meeting between OPEC and allied producers has been delayed until April 9 as reports indicated most members are in favor of continuing output cuts.

The DAX jumped 3.29% at 7:20 am CET, while the FTSE 100 climbed 1.99%.

Breaking the News / JC

The meeting between the Organization of Petroleum Exporting Countries (OPEC) and their allies led by Russia will be held on April 9, the Energy Ministry of Azerbaijan confirmed to Russian media on Saturday.

The meeting is expected to discuss a potential cut in oil output and will reportedly be held via teleconference.

Breaking the News / NI

A meeting between the Organization of Petroleum Exporting Countries (OPEC) and its allies may be held during the next week, TASS reported on Friday, citing an unnamed source.

The insider claimed that the meeting was initiated by Saudi Arabia, but did not provide details on the format of discussions.

Breaking the News / MS

European equities traded below the flatline premarket on Friday with the investors remaining focused on the ongoing coronavirus pandemic.

The FTSE 100 in London was down 1.09% at 7:30 am CET, while the DAX lost 0.82%.

The euro was flat against the greenback at 7:30 am CET to go for 1.08468, while the pound slipped 0.14% to sell for 1.23808 dollars.

Breaking the News / MD

Blessings all and happy Friday to ya!

Equities on major European stock markets were slightly higher on Thursday during premarket trade as the coronavirus crisis continues. Media reported Germany would propose making a €200 billion European Union aid fund instead of issuing "corona bonds." Meanwhile, another report claimed the United Kingdom would modify its Coronavirus Business Interruption Loan Scheme.

The FTSE 100 was up 0.11% at 7:34 am CET. The DAX rose 0.18%.

The euro fell 0.13% against the dollar to $1.09496 at 7:33 am CET, while the pound rose 0.33% to $1.24056 at the same time.

Breaking the News / MD

European stocks traded lower in the premarket on Wednesday as the coronavirus crisis continued raging across the continent, causing significant economic troubles in the most affected countries. The newest update showed the number of COVID-19 cases in Germany has surpassed 68,000, while around the same time, the Bank of England suggested the country's largest banks to consider removing salary bonuses while the pandemic lasts.

The DAX plunged 2.78% at 7:30 am CET, while the FTSE 100 sank 3.17% at the same time. The CAC 40 plummeted 3.33% at 8:00 am CET.

The euro lost 0.07% against the dollar to go for $1.10248 at 7:31 am CET, while the pound concurrently dropped 0.23% to sell for $1.23882.

Breaking the News / ND

Equities on major European stock markets traded mixed on Tuesday with investors focused on the ongoing coronavirus pandemic. The International Monetary Fund warned the gross domestic product of European economies could fall by 3% for every month of sectoral closures.

The FTSE 100 lost 0.21% at 7:25 am ET, while the DAX rose 0.28%.

The euro slipped 0.28% against the greenback at 7:24 am ET to go for 1.10158, while the pound dropped 0.62% to sell for 1.23390 dollars at the same time.

Breaking the News / MD

Major European stock markets traded slightly higher premarket on Monday as the coronavirus crisis continues. Toyota Motor Corp. announced it would keep its factories in Europe closed until further notice due to the pandemic.

The FTSE 100 was up 0.11% at 7:31 am CET, while the DAX rose 0.23% at the same time.

The euro dropped 0.54% against the dollar at 7:24 am CET, changing hands for $1.10746. The pound was down 0.60% concurrently to $1.23811.

Breaking the News / MD

Equities on major European stock markets ticked lower in premarket on Friday as coronavirus worries persist continentwide.

Germany and the Netherlands opposed coronabonds as a potential response to the COVID-19 crisis following European Central Bank President Christine Lagarde claims that the Eurozone finance ministers should "seriously consider" it.

Meanwhile, the United Kingdom's Society of Motor Manufacturers and Traders (SMMT) expects the country's vehicle output to slump 18% in 2020 with coronavirus impact looming over the European car industry.

The FTSE 100 in London dropped 1.60% at 7:45 am CET while the DAX lost 0.57% at the same time.

The euro increased by 0.08% against the dollar, trading for 1.10397 at 7:44 am CET.

Breaking the News / GA

‘Tis Friday once again dear ones.. best wishes

Stocks in Europe fell sharply in premarket trading on Thursday on continuing worries about the impact of the coronavirus pandemic. Investors also awaited the Bank of England's interest rate decision, as well as United Kingdom retail sales figures and German consumer confidence data due later in the day.

The FTSE 100 dropped 2.02% at 7:43 am CET, the DAX plunged 2.39% and the CAC 40 fell 1.89% at the same time.

The euro added 0.28% against the dollar to sell for 1.09137 at 7:44 am CET, while the pound declined 0.33% compared to the US currency to go for 1.18406 at 7:45 am CET.

Breaking the News / NP

Equities on major European stock markets ticked higher in premarket on Wednesday following a deal on the coronavirus relief bill that was reached by the United States Senate.

The stimulus bill worth $2 trillion is expected to be passed later today in the upper chamber of US Congress, according to Senate Majority Leader Mitch McConnell.

The DAX in Frankfurt gained 0.78% at 7:40 am CET while the FTSE 100 went up by 0.42% at the same time.

The euro added 0.23% against the dollar, going for 1.08126 at 7:39 am CET.

Breaking the News / GA

European stocks reversed some losses on Tuesday from the previous day as volatility remained high on stock exchanges amid the coronavirus pandemic. Market-watchers focused on stricter measures to combat the virus from France and Netherlands while COVID-19 cases in the United States surged as Congress continued to discuss its coronavirus stimulus measures.

Germany''s DAX was 4.37% higher at 7:44 am CET. The FTSE 100 in London rose 3.62% at the same time. The CAC 40 rose 4.5% at 7:30 am CET.

The euro increased 1.12% to 1.08467 against the dollar at 7:46 am CET.

Breaking the News / VP