Oil Dropped Amid Worsening Health Situation, Gold Also Fell But Marginally

Oil prices fell below 0.3 percent on Monday, December 28, in the face of ongoing worries about the worsening of the global health situation due to the outbreak of a new strain of coronavirus. Around the same moment, a good aspect for all volatile investments was the announcement that US President Donald Trump signed a $2.3 trillion budget for 2021, which included a $900 billion fiscal incentive package.

WTI crude futures traded down 0.15 percent to finish at $48.16 at the end of the day in February, while February Brent crude futures fell -0.25 percent to $51.21.

The world’s adverse pandemic scenario tends to place pressure on the price of oil. So, in 10 countries, including Canada, Germany, France, Australia and South Korea, a new strain of coronavirus, recently detected in the UK, has also been detected.

Many countries have suspended air travel with the United Kingdom in this respect, and it is difficult to preclude in the future the continuation of restrictions on airlines, depending on the geography of the delivery of that burden. As a consequence, this could have a detrimental effect on overall oil production.

Around the same time, news of the signing of the US President’s tax stimulus bill for the US economy is beneficial to a wide variety of volatile assets, including gasoline, which could raise oil prices in the future. The House of Representatives, with a Democratic majority, was waiting on Monday to vote on a bill that would increase checks from $600 to $2,000. However, legislative procedure requires a two-thirds majority, which, without the participation of many Republican elected representatives, would be impossible to obtain. And even though the bill crosses the stage in the assembly, as there were risks of the Republican-dominated Senate opposing it.


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


On Monday, gold rates fell marginally by -0.1 percent and were at $1880.40 per troy ounce.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Recent Articles

COVID-19 Testing Frequency Is Unlikely To Decline And Abbott Labs (ABT) Is Main Beneficiary

The stock of Abbott Labs (ABT) has gained almost 40% over the past year. Sales of COVID-19 tests for the ABT stock were strong,...

What is behind this recent momentum of Ebix Inc. (NASDAQ: EBIX)

Despite the decline in February, Ebix Inc. (EBIX) gained double-digits in March, partially recovering from the drop. EBIX was trading at $ 31.06 on...

General Motors (GM) To Invest Almost $30 Billion in EV’s

For the first time in its history, General Motors (GM) plans on investing around $30 billion into electric vehicle development and production. Many investors...

The Fundamentals Of Designer Brands Inc. (DBI) Are A Compelling Reason To Be Bullish On The Stock

Some investors were pleased to see that the DBI stock's executives that sells high-end footwear, Designer Brands Inc(DBI), acquired new shares of their company...

The Fundamental Case for and Against Sage Therapeutics (SAGE)

During the past 52 weeks, Sage Therapeutics (SAGE) shares have fallen about 25%. Another reason for the decline in quotations is the drug's inability...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.