Brent oil turns positive, European equities turn advance

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Oil prices gapped lower in Asia, but turned positive in Europe and helped the major European stocks advance.

    At the time of writing, Brent was trading 0.34% or 13 cents higher on the day around $38.80/barrel. Prices hit a low of $38.10 levels earlier today as traders priced-in falling prospects of output freeze accord. WTI oil also traded with 0.40% gains around $36.95/barrel.

    Moderate gains in oil prices also helped Stoxx 50 index move higher. The index now trades 1.2% higher on the day.

    Though oil prices have recovered, the gains are hard to come as concerns of excess supply remain intact.
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