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Oil Down, COVID-19 Concerns Cloud Fuel Demand Outlook

Oil was down Tuesday morning in Asia, as COVID-19 concerns alongside slowing manufacturing activity in the U.S. and China dimmed the fuel demand outlook.

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gold

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Oil prices slide on worries over China economy and higher crude output

Oil prices fell on Monday on worries over China’s economy after a survey showed factory activity growing at its slowest pace in 17 months in the world’s second-largest oil consumer, concern compounded by a rise in oil output from OPEC producers.

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Gold eyes biggest weekly gain in over 2 months on Fed signal

Gold prices were on track for their biggest weekly gain in more than two months on renewed signs that the U.S. Federal Reserve may not taper economic support and hike interest rates in the near term.

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