World Bank slashes outlook for oil, metals as coronavirus crushes demand

WASHINGTON: The World Bank slashed its outlook for oil and metals prices on Thursday due to the economic fallout of the coronavirus pandemic and said the commodity market shock could hit developing countries hardest. Crude oil prices are expected to average $35 a barrel this year, down 43 per cent from the average in 2019, […]

No demand: World’s container ships run near empty

Hong Kong: Warehouses are getting so full of goods like fridges and washing machines that retailers are asking shipping companies to push back deliveries, which may drag global container shipments down as much as 30 per cent in the next few months, according to the head of an industry group. Shipments have probably fallen about […]