Forex News from New Forex: World markets decline after the news from Doha
In the trading on Monday, April 18, European shares fall amidst decreasing oil prices. World markets try to evaluate results of the OPEC meeting in Doha. The target of the meeting was to freeze oil prices at the current level, OPEC members and also non-OPEC members could not agree about this question. One of the OPEC leaders Saudi Arabia did not support the proposal to freeze prices unless Iran supports it. However, Iran which was not represented in the meeting has always said that it is not going to freeze prices as it intends to reach its presanction level of the market share.
WTI with the delivery in May is seen at $39.05 (-3.25%) a barrel now, Brent with the delivery in June trades at $41.96 (-2.65%).
The pan-European index STOXX 600 slid 0.18%. Main Eurozone indexes are falling, the UK’s FTSE tumbled 0.16%, the German DAX shed 0.20%, the French CAC 40 edged down to 0.30%. Asian markets have sharply declined after the news from Doha. The Japanese index Nikkei lost 3%, the Chinese Shanghai Composite dropped by 1.43%, Hong Kong index Hang Seng slipped to 0.73%.
NewForex Analyst
Luigi Campo
In the trading on Monday, April 18, European shares fall amidst decreasing oil prices. World markets try to evaluate results of the OPEC meeting in Doha. The target of the meeting was to freeze oil prices at the current level, OPEC members and also non-OPEC members could not agree about this question. One of the OPEC leaders Saudi Arabia did not support the proposal to freeze prices unless Iran supports it. However, Iran which was not represented in the meeting has always said that it is not going to freeze prices as it intends to reach its presanction level of the market share.
WTI with the delivery in May is seen at $39.05 (-3.25%) a barrel now, Brent with the delivery in June trades at $41.96 (-2.65%).
The pan-European index STOXX 600 slid 0.18%. Main Eurozone indexes are falling, the UK’s FTSE tumbled 0.16%, the German DAX shed 0.20%, the French CAC 40 edged down to 0.30%. Asian markets have sharply declined after the news from Doha. The Japanese index Nikkei lost 3%, the Chinese Shanghai Composite dropped by 1.43%, Hong Kong index Hang Seng slipped to 0.73%.
NewForex Analyst
Luigi Campo
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