Oil price appreciates as Asian shares slip further
Oil rose towards $85 on Monday as Asian shares slipped on lingering trade and US rates worries.
Asian shares slipped on Monday as worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism, despite a rebound in global equities.
The situation arose after the monarchy warned against threats to punish it over disappearance of a journalist.
Brent crude futures rose to 81.82 dollars per barrel,
Investors were also bracing for a European Union summit meeting from Wednesday.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent while Japan’s Nikkei dropped 0.9 per cent.
Oil price appreciates as Asian shares slip further
MSCI’s broadest gauge of the world’s stock markets , was off 0.1 per cent after a sizable 3.87 per cent decline last week to a one-year nadir, and marking its biggest weekly fall since March.
The market shakeout has been blamed on a series of factors, including worries about the impact of a U.S.-China trade war, a spike in U.S. bond yields this week and caution ahead of earnings season. (NAN) https://dailytrust.com.ng
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