Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus. "It is kind of year-end quiet, but a weaker dollar is helping keep a floor under markets," said Stephen Innes, chief global market strategist at Axi. Brent and WTI have more than doubled from decade lows seen in April, putting past a year which marked the first negative prices for WTI that shocked investors globally. Asian shares edged up on Thursday and were set to end a tumultuous 2020 at record highs. Global commodity markets are poised to end 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices.

Source: Mint December 31, 2020 10:52 UTC