Oil prices climb as Trump returns to White House

Oil prices gained on Tuesday due to fears that refineries could be hit by a storm brewing in the Gulf of Mexico, while buyers also drew relief from U.S. President Donald Trump’s return to the White House after being treated for COVID-19 in hospital.

The gains slightly extended Monday’s rally of more than 5%, when buyers took heart from Trump saying he would return to the White House, and from growing hopes for an agreement on a U.S. stimulus package to counter the impact of the pandemic.

IamFire plc (LON:FIRE) is an Investment Issuer Listed on the AQSE Growth Market Exchange. The company has an investment strategy focused on the identification of opportunities in Life Sciences, Technology & Natural Resources.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

More articles like this

Australia reworks offshore decommissioning process

The Australian Government has approved a range of measures aimed at enhancing and strengthening Australia offshore oil and gas decommissioning framework. Minister for Resources, Water and Northern Australia Keith Pitt said the measures will ensure the offshore decommissioning

Oil prices gain on prospects of faster economic recovery

Crude oil prices have edged up on hopes of stronger economic growth as Covid-19 vaccinations gather momentum across the world and reports that US crude inventories have reduced. However, gains have been capped by the impending supply boost

Oil prices are rising

The price of West Texas Intermediate (WTI) has been raising since the start of the year. And it is showing stability at the $60/barrel price point and it could give investors some renewed hope for the industry. During

We may be entering a new commodities supercycle

Rising commodity prices have bank analysts and strategists asking if resurgent demand for raw materials and insufficient supply will create a new commodities supercycle. Price swings, of course, are as old as business itself. A commodities supercycle is different,

US import prices rise strongly in February, boosted by crude oil

U.S. import prices increased strongly in February, boosted by higher costs for crude oil and commodities, strengthening expectations for an acceleration in inflation this year. The Labor Department said on Tuesday import prices rose 1.3% last month after

Shell inks deal to sell onshore upstream interests in Egypt

Shell Egypt and one of its affiliates have signed an agreement with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC to acquire Shell’s upstream assets in Egypt’s Western Desert for a base