Oil prices decline at the beginning of the week’s trading: Oil prices witnessed a decline in early Asian trading on Monday, continuing the losses incurred in the previous session, as the price of oil fell by two 2%- 3% at the end of the week.

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Oil prices decreased at the beginning of the week’s trading

Gold witnessed volatile movement at the beginning of the week’s trading

Japanese Nikkei index continues to rise

Oil prices declined at the beginning of the week’s trading

Oil prices fell in early Asian trading on Monday, continuing losses incurred in the previous session,
as the price of oil fell by 2%-3% at the end of the week, amid fears that rising inflation
may postpone interest rate cuts in the United States.

Brent crude futures fell 34 cents to $81.28 a barrel, and US West Texas Intermediate crude futures
fell 33 cents to $76.16.

Despite the continued attacks launched by the Houthi group in Yemen on ships in the Red Sea,
oil supplies have not been significantly affected by the ongoing conflict between Israel and Hamas in Palestine.

The US Energy Information Administration reported last week that crude inventories rose by 3.5 million barrels to 442.9 million barrels in the week ending February 16, despite analysts’ expectations of an increase of 3.9 million barrels.

Gold witnesses fluctuating movement at the beginning of the week’s trading

The Gold prices witnessed a decline in trading today, Monday,
under pressure from the strength of the US dollar,
but bullion losses faded with the continued escalation of tensions in the Middle East,
which supported the demand for safe havens and made gold trade near its highest levels in the previous session.

Gold saw a moderate decline at the start of the new week, mainly due to rising dollar strength.
However, geopolitical concerns remain strong, making gold remain a major haven for investors.

Japanese Nikkei index continues to rise

In Monday’s trading session, the Japanese Nikkei index saw a strong performance
in the pharmaceutical sector, but profit-taking weighed on the upside.

The Japanese index ended trading up 0.35%, reaching a new closing level at 39,233.71 points.
The index fell from its all-time high of 39,388.08 points earlier in the session
when trading resumed after the holiday on Friday.

This new record high comes after the index exceeded levels last recorded in 1989,
in light of the recovery of the asset bubble economy.

Japanese stocks have been boosted by lower stock valuations and corporate reform efforts,
attracting foreign investment looking for alternatives to battered Chinese markets.
The index has gained 16.8% so far this year.

Japan’s Nikkei average got a positive boost with the S&P 500 and Dow Jones
Industrial Average closing at record levels on Friday.

Oil prices decline at the beginning of the week’s trading

Oil prices decline at the beginning of the week’s trading

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