Tag

Particularly with uncertainty about the Chinese currency, “people are saying this is risk, and we step away from the market“. “Even then, the dependent question mark over growth will linger”.

European stocks fell into a correction on Friday, with a dismal week for the market rounding off with downbeat data from China and Greece facing a snap election.

Iran can boost output by 500,000 barrels a day within one week after sanctions are lifted, Oil Minister Bijan Namdar Zanganeh said earlier this month. In a June survey, the average year-end forecast of participants was that West Texas Intermediate crude would be at .80 per barrel.

Strategists and traders, noting the lack of major U.S. economic news on Thursday, said the drop in stocks was also likely tied to programmed selling, which came after the S&P 500 moved below one of its most closely watched indicators, a 200-day moving average.

In Europe, the FTSE 100 index of leading British shares was down 0.8 percent at 6,472 while Germany’s DAX fell 1.1 percent to 10,800. Heating oil fell 4.1 cents to close at $1.518 a gallon.

The Shanghai Composite closed down 3.4% and the smaller, tech-heavy Shenzhen index lost 3%.

“While this is a clear sign that low prices will lead to less production, it was not enough to convince people yesterday”, Commerzbank senior oil analyst Carsten Fritsch said. Meanwhile, Nymex September West Texas Intermediate Crude dropped 4.7 per cent, or $2.02, to...

The Asian markets dropped even lower on Thursday in the latest chapter of an ongoing slump which threatens to collapse the entire financial system of China.

Oil prices dived Wednesday as a government report showed that U.S. crude stockpiles of last week increased unexpectedly. The figure was 2.62 million barrels higher than it was the previous week, and disappointing to economists who had been expecting a decline of 820,000 barrels....

Having been outperformed by their larger peers earlier in the session, small-cap stocks roared higher in afternoon trade, with the CSI 500, Shenzhen Composite, and tech-heavy ChiNext indices all finishing with gains in excess of 2%.

Light, sweet crude for September delivery dropped $1.27, or 3%, to $41.35 a barrel on the New York Mercantile Exchange.

U.S. September crude was down $1.85 at $40.77 a barrel at 11:41 a.m. EDT (1541 GMT), having fallen to $40.60, the lowest front-month price since March 2009. It said markets will be tracking the eurozone, U.S., and Chinese flash PMI data on Friday very closely.

The nation may even consider selling debt in the global markets, provided oil prices stabilise and government spending continues, John Sfakianakis, the Riyadh-based Middle East director at asset manager Ashmore Group, says. The stock had come under pressure after state media said...

US crude oil, also known as West Texas Intermediate or WTI, was down 45 cents at US$40.35 a barrel by 0910 GMT, after hitting a new 6-1/2-year low of US$40.23.

The Dow Jones Industrial Average closed down 33.84 points, or 0.2%, at 17,511.34, after being off as many as 59 points.