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  • Oil prices struggle to hold five-month high amid pandemic worries

    Oil prices struggle to hold five-month high amid pandemic worries

    Oil prices were unchanged on Thursday, struggling to hold onto five-month highs reached in the previous session, as fuel demand worries caused by a second wave of coronavirus infections outweighed declines in the U.S. dollar. U.S. West Texas Intermediate (WTI) crude <CLc1> futures were down 3 cents, or 0.1%, at $42.16 a barrel at 0148 GMT, while Brent crude <LCOc1> futures rose 6 cents to $45.23. The two benchmark contracts rose more than 1% on Wednesday to their highest since March 6, completing a four-day rally, after the Energy Information Administration reported a much bigger than expected drop in U.S. crude stockpiles.

  • Reuters

    Governments to discuss recovery at Trans-Pacific trade meet: Mexico

    A meeting of ministers from a trans-Pacific trade bloc will discuss measures aimed at reviving economic growth after the coronavirus pandemic, the Mexican government, which is chairing the virtual conference, said on Wednesday. Top officials from the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are due to hold a video conference on Wednesday evening Mexican time, coinciding with Thursday morning in East Asia. The economy ministry of Mexico, which as president pro tempore of the group will chair proceedings, said ministers will discuss strategies to achieve "a rapid economic recovery" as well as compare notes on how to deal with the pandemic.

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