Oil races to near six-month highs on Iran sanctions, stocks rise

  • 📰 Reuters
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

World oil prices jumped to near 6-month highs on Tuesday as the United States ti...

HONG KONG/TOKYO - World oil prices jumped to near 6-month highs on Tuesday as the United States tightened sanctions on Iran, sending shares of energy companies higher and boosting currencies of several major crude producers.

European markets looked set to track Asia’s rise, with London’s FTSE futures up 0.4 percent and German DAX futures higher by 0.2 percent. Oil prices are “not so high that it crushes manufacturing by putting energy price inputs up, but it is producing a nice boost to oil producing nations,” said Robert Carnell, Singapore-based chief economist and head of research for Asia Pacific at ING.

“We’ve had a fantastic run in Chinese equities year-to-date, some profit taking is completely normal. I don’t think China is changing its policy that quickly,” said Stefan Hofer, chief investment strategist at LGT Bank Asia in Hong Kong. The world’s largest economy reported worse-than-expected fall in home sales on Monday, as rising demand continued to be frustrated by a lack of properties.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

MAGA

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks slip, oil near six-month peak as U.S. prepares to tighten Iran sanctionsAsian shares slipped on Monday, weighed down by underperforming Chinese stocks, ... 🤔🤔🤔
Source: Reuters - 🏆 2. / 97 Read more »

Asia stocks slip, oil near six-month peak as U.S. prepares to tighten Iran sanctionsAsian shares slipped on Monday, weighed down by underperforming Chinese stocks, ... Now gas is sky high in cost too 🤬🤬🤬🤬 This has to stop, or people won't be able to afford to drive anymore.
Source: Reuters - 🏆 2. / 97 Read more »

Asia stocks firm, oil hits 5-month peak on Iran sanctions reportAsian shares were steady on Monday as investors took stock of recent data sugges...
Source: Reuters - 🏆 2. / 97 Read more »