News Formal

Oil prices tumble 6% amid fading hopes for a smooth improvement in global demand - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Oil prices tumble 6% amid fading hopes for a smooth improvement in global demand

tumbled 5.4%, to $41.38, to its intraday low as of 11:05 a.m. ET. Both reached their lowest point since late June.

Economic data released Thursday morning added to the oil market's worries. US gross domestic product fell at an annualized rate of 33% in the second quarter, confirming the coronavirus drove the biggest economic slump on record. Jobless claims for the week ended Saturday increased for the second week straight. The uptick arrives after months of steady declines and suggests the US labor market may stabilize at a historically high level of unemployment until the virus threat subsides.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HackerRank sees demand spike for developers, data scientists, interns - Business InsiderThe CEO of popular tech hiring site HackerRank says demand has surged for app developers, data scientists and interns as companies like Morgan Stanley, Riot Games or John Deere look to 'improve their online presence, or risk losing out' True!
Source: BusinessInsider - 🏆 729. / 51 Read more »