You are viewing:-
you're reading...
1.Market Observations, 8.Was Sticky

5 Feb 2020 (AFR) – Crude shock as oil tumbles on coronavirus hit

(5 February 2020, AFR, p24, Tom Richardson, Markets reporter and commentator)

Oil and copper prices (Bloomberg, AFR)

Oil and copper prices (Bloomberg, AFR)

‘The coronavirus has one more victim with benchmark oil prices tumbling 18 per cent over 2020 to below $US50 a barrel on Tuesday as traders worry a slowdown in China will shatter demand. The uncertainty over the virus’s ongoing impact has now sent prices for both West Texas Intermediate and Brent crude oil futures benchmarks to their lowest levels since December 2018. Copper, often viewed as a proxy for the strength of China and global economic demand, is down 11 per cent to $US2.50 a pound this year.’

Read more at AFR.com (might need AFR login access)

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: