Big Oil recorded one of its worst years in history because of the coronavirus pandemic that pushed their financial results deep into negative territory. Earlier this week, BP reported a net loss of $5.7 billion for 2020, citing oil and gas price weaknesses and demand destruction by the pandemic. Exxon, for its part, booked the...
The number of global air passengers declined “dramatically” last year due to travel restrictions imposed over the Covid-19 pandemic, the International Air Transport Association (IATA) said on Wednesday. “The year 2020 brought an unprecedented challenge to the airline industry in a form of closed borders, strict travel controls, and depressed travel confidence – all effects...
Crude prices continued to rally after hitting their highest level in over a year, as production cuts by Russia and Saudi Arabia in an effort to boost the pandemic-hit market were bolstered by a global drawdown in inventories. Both international benchmark Brent and West Texas Intermediate (WTI) advanced over one percent on Wednesday, trading at...
A buying frenzy has swept the silver market as the Reddit community rushed over to commodities, with the price of the white metal soaring to an eight-year high this week. RT's Boom Bust talks to David McAlvany, CEO of McAlvany Financial Group, about the buying fever that has captivated the financial world lately. “These swings...
China is increasing imports of computer chips and equipment required to manufacture them in a bid to mitigate the impact of a US ban on high-tech exports, as Beijing's semiconductor industry struggles to meet domestic demand. The Trump administration cracked down on China's tech giants last year, trying to cut their access to advanced chips....
Grain exports by Russia in the current agricultural year, from last July to June 2021, have already hit 34.3 million tons, 25 percent more than during the same period last season. According to business daily Vedomosti, citing the head of the Rusagrotrans analytical center, Igor Pavensky, it is also the highest indicator in the history...
India's key stock indices extended their winning streak to reach new record highs on Wednesday. The rally is driven by positive economic data and government plans to boost spending to secure further recovery from the pandemic. The benchmark S&P BSE Sensex climbed over one percent and was on a path close above the 50,000-mark on...
