Global markets are trading mostly Tuesday, despite another major reversal in the US crude oil price.
In Asia, the benchmarks in Tokyo, Sydney and Shanghai were basically flat, while Hong Kong and Seoul recorded gains in trading in the late afternoon. In Europe, the FTSE in London, the CAC-40 in Paris and the DAX index in Frankfurt were all in positive territory in the morning negotiations.
FILE – The sun sets behind an inactive pump outlet near Karnes City, Texas, April 8, 2020. Oil demand continues to fall as a result of the new coronavirus outbreak.
In oil futures trading, the price of West Texas intermediate crude, the United States benchmark, was $ 10.23 per barrel, down nearly 20%, while Brent crude oil, the international benchmark, was traded at $ 19.25 a barrel, a 3.7% loss. The latest selloff for U.S. crude came after the United States Oil Fund, a popular exchange-traded fund, announced that it would sell all of its contracts for June.
Oil markets have been struggling since the COVID-19 pandemic took hold, with the government imposing quarantines that stifle demand and cause massive oversupply. U.S. crude oil prices plunged below $ 0 a barrel for the first time in history last week.
Meanwhile, Dow Jones, S&P 500 and Nasdaq are all trading higher on Tuesday’s futures trading.
"Trading" - Google News
April 28, 2020 at 05:52PM
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Global Markets Trading Higher Tuesday - Smash Newz
"Trading" - Google News
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