Oil rises 5% on output cuts, demand hopes

Oil rises 5% on output cuts, demand hopes

Oil producers will be hoping for a third consecutive week of gains as more countries relax lockdowns intended to halt the coronavirus pandemic. Oil prices settled 5 per cent higher on Friday in their second consecutive week of gains as US producers cut production with...
Oil rises 5% on output cuts, demand hopes

Aussie shares to gain on virus drug hopes

Shares on the Australian market are set for gains after US stocks surged overnight after promising results for a COVID-19 treatment. The Australian SPI 200 futures contract was up 108 points, or 2.01 per cent, at 5,468.0 points at 0700 AEST on Thursday. Big tech...
Oil rises 5% on output cuts, demand hopes

Wall Street jumps on hopes for virus drug

Wall Street has jumped as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants. Gilead rose 4.8 per cent after the drugmaker said its...
Oil rises 5% on output cuts, demand hopes

Gold slips on hopes of easing lockdowns

Gold fell on Monday as US Treasury yields rose and plans by many countries to ease coronavirus-induced lockdowns whetted investor appetite for riskier assets, but unprecedented stimulus measures from governments provided underlying support. Spot gold fell 1.0 per cent...
Oil rises 5% on output cuts, demand hopes

Copper hits six-week high on demand hopes

Copper bounced to its highest in about six weeks as investors hoped that easing of lockdowns and factory restarts would revive metals demand hit by the coronavirus pandemic. Industrial metals prices rose along with stock markets, which also took heart from further...