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A collective rise in oil

A collective rise in oil and American, Asian, and European indicators

A collective rise in oil and American, Asian, and European indicators

A collective rise in oil and American, Asian, and European indicators:

It seems a good day for commodity trading, stocks and indicators trading, and even currencies.

Today witnessed a rise in oil prices, the Asian indicators, headed by the Japanese Nikkei index,
which is completing its climb for the fourth session in a row.

 

In Europe, all leading exchanges started trading positively, following the performance of major Wall Street
indicators that ended trading in the green zone yesterday.

 

Evest is following up on all the updates of the trading world, relaying them to you daily.

Oil completes the march of a sharp rise

After rising sharply during Monday’s dealings, oil prices continued their rise on Tuesday, with Brent crude moving above $66.50 a barrel.

 

Commodity prices are supported by accelerating vaccination rates against the Covid-19 epidemic all over the world.

This strengthens expectations for a rapid economic recovery, and thus a rise in oil demand.

Iran

At the same time, such a development could mean that the market could withstand an increase in potential oil supplies
from Iran, which expects sanctions to be lifted.

 

At the same time, opportunities for an early lifting of sanctions against Tehran,
which is another motive for oil prices, have been reduced.

 

 

The price of the North Sea oil mix for July delivery reached $68.66 a barrel.

Compared to the previous session, this meant an increase of 20 cents (0.29%).

Brent crude

Brent crude has recorded a growth of 3% yesterday.

For its part, the price of US light oil reached $66.16 a barrel.

Compared to yesterday’s session this represents an increase of 11 cents or 17%. At the end of yesterday’s trading,
the price of West Texas Intermediate crude rose by 3.9%.

 

Brent oil is traded at $68.43 a barrel in international markets.

 

The ongoing nuclear agreement negotiations between Iran and the United States continue to influence the course of oil prices.

 

Investors are tracking information on the recovery of fuel demand, which can allow markets to adjust the potential increase in Iranian oil supplies.

Last week

Last week, the fourth round of negotiations was held regarding the renewal of the 2015 nuclear agreement with Iran, which assumed that Iran would reduce uranium production and that world powers would lift Iranian economic sanctions.

 

If the US sanctions on Iran are lifted, the flow of Iranian oil will increase.

 

The talks, which began on April 6 in Vienna, the capital of Austria, and discussed the full implementation of the Iranian nuclear agreement, called the Joint Comprehensive Plan of Action, and America’s return to the agreement, is expected to continue this week.

Yesterday

Yesterday, in a post on his Twitter account, Iranian Foreign Minister Mohamed Jawad Zarif responded to US Secretary of State Anthony Plinkin’s statement regarding sanctions against Iran and demanded that US President Joe Biden abandon the legacy of the former US President Donald Trump.

 

Zarif explained that lifting Trump’s sanctions was not a bargaining tool but a legal and moral obligation.

 

Blinkin criticized Iran’s position on the nuclear agreement in the program he attended on ABC on Sunday.

He said that the primary objective of the United States in this regard was to prevent Iran from acquiring nuclear weapons by returning to the terms of the nuclear agreement.

Thus, “terrorist elements supporting Iran in the region” can prevent this.

Goldman Sachs analysts estimate

Goldman Sachs analysts estimate that fuel markets are likely to be able to absorb additional barrels of oil.

They also point to the strength of demand as vaccines against Covid-19 are offered all over the world.

 

On the other hand, despite the gradual removal of restrictions and after reducing the number of new types of Coronavirus (Covid-19)
in the United States of America and Europe, the world’s largest oil consumer, attention is also drawn to the high number of cases in the Asian region,
including India, the world’s third-largest oil importer, as its negative effect continues to strain oil prices.

 

Participants in the commodity trading market are waiting for the announcement of US oil reserves today, by the American Institute of API,
while the US Department of Energy will submit its official report next Wednesday.

Nikkei is in the green area for the fourth session in a row

The Tokyo Stock Exchange continued its upward line today, ending trading in the green area for the fourth consecutive session
following gains in Wall Street during the previous day, particularly by shares of technology companies.

 

The Nikkei main index rose by 0.67% to reach 28553.98 points, while the broader Topix index rose by 0.34% to record 1919.52 points.

The New York Stock Exchange

The New York Stock Exchange rose sharply yesterday, as vaccination progressed and companies in the United States
reopened, causing a wave of optimism about the pace of US economic recovery.

Tokyo investors

On Monday, Tokyo investors did not seem to be concerned about the US recommendation not to travel to Japan
because of the risks related to the epidemic, as the market has already taken into account the country’s delays in vaccination.

 

However, purchases were limited to the possible announcements of an extension of the Covid-19 emergency in many Japanese
countries, which is expected this week according to local media.

Hong Kong

In Hong Kong, the Hang Seng index rose by 1.64%, while both Shanghai and Shenzhen indexes closed at a sharp height.

 

A collective rise in European indicators

Leading stock indexes in Western Europe started trading strongly today, as the FTSE 100 index in London rose by 0.13%.

The DAX 30 in Frankfurt rose by 0.77%, while the CAC 40 index in Paris rose by 0.08%.

 

Among the combined euro area company indicators, Eurostox 50 index began to rise by 0.65%.

 

Wall Street is fully in the positive zone

The US stock market closed in the positive area on Monday.

Technology stock hikes were particularly obvious.

The Dow Jones Industrial Index rose by 0.54% to reach 34,393.98 points.

The Standard and Poor’s 500 indexes rose by 0.99% to record 4197.05 points.

The Nasdaq 100 indicator jumped by the rate of 1.72% to reach 13,641.75 points.

A collective rise in oil

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