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Added on the 07/04/2020 14:00:00 - Copyright : EFE Inglés
Ending a six-month run of spiraling demand, sales of existing homes in the US contracted in November. It's being read as a signal that rising prices and historically low supply is finally slowing the housing market's rally. According to Business Insider, the National Association of Realtors says home sales fell 2.5% last month to a seasonally adjusted annual rate of 6.69 million. The median price for existing homes fell to a six-month low as well, dipping month-over-month to $310,800 from $313,100. Even so, the pace is still up 25.8% from the year-ago period.
Major oil exporters meet in Doha this weekend to discuss a possible production freeze. But even if a deal is struck, analysts offer little hope it will reduce a glut that's pushed crude prices down by 70 per cent since 2014. Kirsty Basset reports.
German consumer morale holds steady going into February as shoppers felt more upbeat about the outlook for Europe's largest economy. As David Pollard reports, there are encouraging signs elsewhere in the euro zone too despite the slowdown in China.
The International Energy Agency said unusually mild weather and rising supply will keep the oil market oversupplied until at least late this year. Fred Katayama reports.
Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms. As Grace Pascoe reports, the warning from the International Energy Agency comes after a bad week for markets.
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