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What pushes oil prices to new record highs?

What pushes oil prices to new record highs?

Oil prices have gained momentum and are hitting new highs. Since the beginning of the week, Brent crude has been soaring. The price has already broken the level of $33 a barrel. The last time Brent crude reached such levels was in April. In fact, analysts lost hope for a recovery after a slump logged in May. However, the market is really unpredictable and it often surprises its participants.
18:23 2020-05-25 UTC+00
Powell projects US recovery to linger until end of 2021

Powell projects US recovery to linger until end of 2021

The White House is not in a hurry to make ambitious plans as well as it does not tell the American citizens stories about persistent economic growth during the pandemic. The country's authorities are well aware that they will have to keep all promises. Therefore, they are used to looking at things more objectively.
16:08 2020-05-25 UTC+00
US implements restrictions on Huawei’s chip supply

US implements restrictions on Huawei’s chip supply

The escalation of the trade conflict between the United States and China has significantly affected a number of Chinese tech companies, including Huawei Technologies. Recently, US President Donald Trump has restricted Huawei’s access to the global supply chain. The company’s authorities considered the move by the US to be totally unjustified.
16:02 2020-05-25 UTC+00
COVID-19 stress test: democracies seem better at fighting coronavirus

COVID-19 stress test: democracies seem better at fighting coronavirus

Nowadays, the coronavirus-driven crisis is testing not only the economies but also the political systems of the countries. The so-called vertical power state structures with the top-down power distribution have already proven to be ineffective when tackling the coronavirus outbreak.
13:22 2020-05-25 UTC+00
Pavel Durov announces discontinuation of TON blockchain

Pavel Durov announces discontinuation of TON blockchain

Recently, the founder of Telegram, Pavel Durov, has announced the closure of the blockchain project Telegram Open Network (TON) due to the company’s ongoing legal fight with the US Securities and Exchange Commission (SEC). The TON was meant to be a next-generation blockchain platform with its own cryptocurrency Gram.
12:11 2020-05-25 UTC+00
Turkish lira plummets almost 20% in 2020

Turkish lira plummets almost 20% in 2020

The Turkish lira has been battered under the strain of the coronavirus. Like the Russian ruble, the Turkish currency can compete for the title of the weakest currency of 2020. Apart from serious depreciation against the US dollar, there is something in common between those currencies in terms of economic fundamentals. The monetary authorities have taken up the same stance under the economic crisis.
11:22 2020-05-25 UTC+00
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