A negative start of a week for Asian markets and oil 2021-04-12T18:13:14 Oil News A negative start of a week for Asian markets and oil A negative start of a week for Asian markets and oil: At the start of this week, Global markets are witnessing significant pressure as investors are still clearly evaluating what is happening in the world regarding Covid-19’s case, due to progress in vaccines in some countries, led by the United States, and at the same time increasing the number of infections in the world while easing some restrictions in the United Kingdom. Announcement of corporate results for the first financial quarter of this year which is expected to have new surprises is supposed to begin. Evest is following up on all developments in global financial markets and transmits them daily to you. Oil retreats at the start of the week Oil prices are slightly falling during the first session of this week, as investors are concerned that a new jump in cases of Coronavirus could lead to a sharp drop in oil demand. Investors are also analyzing comments released by Jerome Powell, Federal Reserve Chairman. West Texas West Texas Intermediate for May delivery on New York Fuel Exchange is estimated at $ 59.11 a barrel, down by 0.35%. The cost of Brent crude for June delivery on the European Fuel Futures Exchange in London is $ 62.72 a barrel, down by 0.37%. Investors Investors heard comments from Federal Reserve Chairman Jerome Powell, who noted that the US economy is on a “turning point” with stronger growth and employment thanks to Covid-19’s ongoing vaccinations campaign and massive monetary policy support. However, during an interview with CBS 60 “Minutes”, Powell added that the main danger is the spread of Coronavirus pandemics. This situation affects many regions, including parts of Europe as well as India, as the second wave of Coronavirus infections predominates over local health care systems. At a time when more than 70 million people have been fully vaccinated in the United States and the number of new infections in Europe has declined since the Quarantine, India has reported record levels. In other parts of Asia, there is also an increase in the number of coronary virus patients. According to Linz According to Linz, this is likely to continue to “obscure global tourism prospects” and curb price fluctuations at least until summer. Iran and the fate of the anti-nuclear program remain another threat. Investors continue to watch indirect talks between the United States and Iran regarding the Iranian nuclear agreement which is scheduled to be resumed in Vienna this week. An agreement between Washington and Tehran could lift sanctions on the Iranian oil sector and cause an influx of Iranian oil into the market. Nuclear power Iranian President Hassan Rouhani, who oversees the operation of sophisticated centrifuges at Natanz underground nuclear power plant, said that all Iranian nuclear activities are peaceful and have no military objectives. He also reaffirmed Iran’s commitment to the non-proliferation of nuclear weapons. Iran broke many restrictions imposed by the 2015 Agreement. US former president Donald Trump withdrew from the agreement in 2018 in response to its nuclear activities. Last week, two countries took firm positions during intermediate talks in Vienna on how to return to an agreement. Meanwhile, data from US oil services company Baker Hughes, published last Friday, showed an increase in the number of oil and gas platforms operating in the United States by 2 units – up to 432 drilling platforms. The collective decline for Asian stocks Asian stock exchanges closed at a decrease after a positive start as investors are waiting for a series of macroeconomic data from China and look forward to the US vaccination campaign. Meanwhile, Federal Reserve Chairman Jerome Powell announced in an interview that economic growth in the second half of the year would be very strong. Tokyo Tokyo negatively closed at a decline of 0.77%, affected by fears of a new increase in Coronavirus infections in Japan. Hong Kong In Hong Kong and Shanghai indicators fell by – 0.9%, while in Shenzhen fell by – 1.9%. Indian index Indian index Mumbai ended on a decrease of 3.2% in the red zone, while Seoul feased trend and slightly rose by 0.1%. This week is witnessing a wide range of economic data on the overall economy, like GDP, trade balance, industrial production and manufacturing from the United Kingdom come. Industrial production is expected from Italy and the confidence of institutional investors from Germany. From the United States, inflation expectations and oil inventories. Expectations for a negative start of European stock exchanges After a positive week for European indexes and after new records in Wall Street, equity markets are heading on the ancient continent towards the beginning of the session, following weak Asian markets. Investors are looking for a trend, amid hopes of recovery and uncertainty about the actual growth capacity of the economy, while vaccination campaigns will continue in different countries amid restrictive measures. United Kingdom Starting from today, in the United Kingdom, they will re-open shops, sports halls, and restaurants will provide food outdoors. There is also anticipation to start quarter-finals in the United States and start announcing results of companies, as banks such as JPMorgan, Goldman Sachs, and others are about results of the first quarter of this year. Half an hour before starting trading, pre-trading data indicated a decrease in futures of Euro Stoxx 50 by 0.48%, while FTSE Mib futures in Milan declined by 0.18%. Paris In Paris, CAC 40 contracts retreated by 1,25%. Frankfurt In Frankfurt, DAX 30 decreased by 0.37%. Madrid In Madrid, the Ibex 35 index fell by 0.85%. Amsterdam In Amsterdam, the Alex index fell by 0.34%.