Gold price eases as dollar firms

BENGALURU, Nov 11 (Reuters): Gold eased on Wednesday on a firmer dollar and market optimism over a potential COVID-19 vaccine, but bets for continued monetary support to revive a pandemic hit economy capped bullion's declines.Spot gold fell 0.3 per cent to $1,870.20 per ounce by 1307 GMT, while US gold...

Read more

Oil rises on hopes for Covid-19 vaccine

LONDON, Nov 11 (Reuters): Oil prices climbed on Wednesday as hopes of an effective COVID-19 vaccine continued to bolster sentiment and an industry report showed US crude inventories fell more than expected.Brent crude LCOc1 rose $1.17, or 2.7 per cent, to $44.78 a barrel at 0925 GMT, while US West...

Read more

Malaysia says aviation firms may need three years to recover

KUALA LUMPUR, Nov 11 (Reuters): Airlines in Malaysia could take three years to bounce back from the coronavirus pandemic, depending on the outbreak in the country and abroad, the transport ministry said.The minister said earlier this week that in the Malaysian Aviation Commission's (MAVCOM) revised projections for passenger traffic this...

Read more

US power use to drop over 3.0pc in 2020 due to virus: EIA

CALIFORNIA, Nov 11 (Reuters): US electricity consumption will decline 3.6 per cent this year as coronavirus lockdowns cause businesses to close, the US Energy Information Administration said on Tuesday in its Short Term Energy Outlook (STEO).The EIA projected power demand will drop to 3,813 billion kilowatt hours (kWh) in 2020...

Read more

ADNOC delivers first shale gas from the UAE

LONDON: The UAE has delivered its first unconventional gas as it takes a step closer to becoming self-sufficient in the energy feedstock.The Abu Dhabi National Oil Company (ADNOC) and TOTAL said the unconventional gas was delivered from the Ruwais Diyab concession located 200 kilometers west of Abu Dhabi city.The pair...

Read more