Oil rebound and positive dynamics in Wall Street and Asia

2022-04-26T18:35:07
Crude oil Russian stock exchange Wall Street
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Oil rebound and positive dynamics in Wall Street and Asia

In China, mobility restrictions significantly undermine the demand for fuel
and thus the demand for oil there, of which China is the largest importer

Evest follows market developments in the following report

 

topic

Upcoming US-Russian talks and morale is getting better in the Russian stock exchange

A positive start in the United States

Positive dynamics in Asia

Oil corrects prices after a sharp decline

 

 

 

Upcoming US-Russian talks and morale is getting better in the Russian stock exchange

Speaking on Channel One on Monday, Russian Foreign Minister Sergeĭ Lavrov said that Washington
and London recommend that Ukrainian President Volodymyr Zelensky constantly tighten his negotiating stance
and not advise him to speed up negotiations with Russia

He said that contacts between Russia and the United States on Ukraine would be useful, but that Washington was not interested in it
“We continue to negotiate with the team put forward by Zelensky, and these contacts will continue, but for Americans
it probably won’t be helpful, we don’t notice any interest on their part regarding contacts – on Ukraine or on other issues

Russian President Vladimir Putin receives United Nations Secretary-General Antonio Guterres in the Kremlin on Tuesday
who is heading to Moscow to discuss Ukraine’s situation
First, Guterres will hold talks with Russian Foreign Minister Sergeĭ Lavrov, and then meet with Putin

On Monday, the UN Secretary-General met in Ankara with Turkish President Recep Tayyip Erdoğan
and is scheduled to meet on Thursday in Kyiv with Vladimir Zelensky

The Russian Federation stock market may grow in the morning due to improved external background
and the MICEX may test the 2200 mark, which is currently the closest resistance

However, in the future, morale is likely to deteriorate, which will compensate for morning growth
In the medium term, the 2000-2200 pass will remain a suitable point for the Moscow Stock Exchange Index
through which the market may move to consolidation with subsequent attempts to start the rebound

 

artical name Oil rebound and positive dynamics in Wall Street and Asia

 

 

 

 

A positive start in the United States

In the United States, stock indices rose on Monday within a 0.6-1.3% correction after falling
and the S&P’s 0.6% and Nasdaq’s 1.3% gain became the highest in almost a week

Market attention is focused on actions by the US Federal Reserve to tighten monetary policy
Almost all experts trust that the Fed will raise the interest prime rate by 50 basis points
at the next management meeting, to be held in early May

In the future, the price is likely to be immediately raised by 75 basis points at the June meeting
Traders put it at 91% on Friday, but on Monday that number fell to 81%, according to CME Group
The rate was increased by 75 basis points
That hasn’t happened since November 1994

 

artical name Oil rebound and positive dynamics in Wall Street and Asia

 

 

 

 

 

Positive dynamics in Asia

In Asia, positive dynamics of stock indices prevailed on Tuesday
Japan’s Nikkei index rose by 0.4%, China’s Shanghai Composite Index fell by 1.5%
and Hong Kong’s Hang Seng Index rose by 0.6%

Investors’ focus remains on the increase in COVID-19 cases in China
Market participants are concerned that severe restrictive measures could slow the growth of the second-largest economy
which would negatively affect global GDP

Japan’s unemployment rate fell in March 2022 to a one-year low of 2.6% from 2.7% the previous month
Analysts expected, on average, the index to remain at the February level, according to Trading Economics

South Korea’s GDP grew in the first quarter by 0.7% on a quarterly basis
with a growth forecast of 0.6% after rising 1.2% in the fourth quarter

 

artical name Oil rebound and positive dynamics in Wall Street and Asia

 

 

 

 

Oil corrects prices after a sharp decline

Oil prices corrected after a sharp decline the day before, and investors continue to monitor China’s situation
under the coronavirus and the Federal Reserve’s monetary policy

Brent crude futures’ cost for June was $103.1 per barrel (+ 0.8% and -4.1% on Monday)
and West Texas Intermediate crude for June was $99.04 per barrel (+ 0.5% and -3.5% the previous day)

Global fuel demand could also be affected if the global economy slows under the tightening monetary policy
of the Federal Reserve and the world’s leading central banks, in an effort to contain rising inflation

Oil prices today attempted a bullish correction after a significant decline the previous day, but then moved back down

On April 25, 2022, the price of Brent oil futures for July on the London Futures Exchange fell by 3.76% to $102.16 per barrel

West Texas Intermediate crude futures’ prices for June in electronic trading on the New York Mercantile Exchange
(NYMEX) fell by 3.46% to $98.54 per barrel

The decline was sharper during trading, with Brent crude falling to the US $99.25 per barrel
WTI to the US $95.28 per barrel, but then oil recovered slightly

On April 26, 2022

oil prices began to rise at the beginning of trading, but then fell

March Brent crude futures prices on the London Stock Exchange ICE Futures fell by $0.46 to $101.69 per barrel on Friday

In electronic trading on the NYMEX, West Texas Intermediate crude futures for June fell by 0.75% to $97.80 per barrel

The coronavirus situation in China remains a major concern for the investor

and The lockdown continues to contain COVID-19 in Shanghai, as well as in other major cities in the country
Dongguan, Langvan, and some cities in Jilin province

The situation began alarming in Beijing, where mass testing for the coronavirus began due to the outbreak

City authorities plan to cover 16.5 million people living in 11 areas of the capital with tests from April 26 to April 30, 2022

According to the authorities, the coronavirus wave has been spreading in Beijing for nearly a week in a latent manner
and a further increase in the number of infections is expected, which could lead to the introduction of a strict lockdown
as happened earlier in Shanghai

China remains committed to a zero-tolerance strategy for the coronavirus
which includes imposing strict lockdowns to contain the outbreak

artical name Oil rebound and positive dynamics in Wall Street and Asia

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