Rolling coverage of the latest economic and financial news
- Bitcoin higher after Monday’s slump
- Bank of England governor says UK in very difficult period
- Pound rises as BoE governor says negative interest rates have issues
- Brent crude back at $56/barrel on recovery hopes
- China’s CSI 300 hits 13-year high
- Bitcoin: be prepared to lose all your money, FCA warns consumers
Here’s more reaction to oil’s rally to 11-month highs today.
SP Angel Oil & Gas:
Oil’s relentless rally is continuing, with crude prices up roughly 1.5% today, making fresh highs since the pandemic plunge. The rally will run into stronger resistance soon enough but a softer dollar is giving it an additional lift todaxy.
I do wonder how much longer this has to run given the mounting near-term risks. Granted, OPEC+ has alleviated some of the downside risks from the lockdowns – which are shaping up to be stricter and longer – but we may see some profit taking as Brent closes in on $60.
#Oil futures up by well over 1.5% in the past hour; #Brent at $56.53/bbl (+1.68%), #WTI at $53.03/bbl (1.61%) – intraday bulls didn't quite get the #Covid bears' memo #OOTT #oilandgas
However, the oil shows no signs of stopping, with WTI and Brent continuing to climb to yearly highs pre-covid pic.twitter.com/cnwI652qTC
British spacecraft could travel to Mars in half the time it now takes by using nuclear propulsion engines built by Rolls-Royce under a new deal with the UK Space Agency.
The aerospace company hopes nuclear-powered engines could help astronauts make it to Mars in three to four months, twice as fast as the most powerful chemical engines, and unlock deeper space exploration in the decades to come.
Related: UK nuclear spacecraft could halve time of journey to Mars
