Commodity in news: Crude oil Prices May go down again.

Commodity in News

Commodity in news

Commodity in news,Peru is world number  2 copper producing country looks to rebound from the impact of the coronavirus pandemic.

Pablo de la Flor, executive director of the National Society of Mining,.

Petroleum and Energy said around 20 mining companies were ready to resume operations.

Which have been crimped by a nationwide lockdown since mid-March.

Minister told mines were currently operating at between 35% and 40% of capacity due to the impact of the virus.

Peru’s government said it wants to gradually restart key activities in May, to reduce the impact on the economy.

The county has registered 54,817 confirmed cases of COVID-19 so far, one of the highest in the region.

Minister Said “We are talking about 39 operations by 22 large mining companies,” .

“These represent approximately 95% of (local) copper production, 65% of silver production.

62% of zinc production and 26% of gold production,” he added.

Crude oil Prices may go Down again due to this negative news in the commodity Market.

Crude oil prices was in plus due to lockdown eased in many part of the world.

various news in the globally was taking crude oil to above 30$ in brent & above 25 $ in Nymex oil.

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