Oil drops amid risk-off in equities

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Oil benchmarks fell in Asia and remain weak in early Europe amid signs of risk aversion in the Asian equities.

    At the time of writing, WTI oil was down almost 1% at $38/barrel. Brent oil was down 0.67% at $40.06/barrel.

    Risk aversion in Asia and a minor bout of strength in the USD weighed over prices. Japan’s Nikkei index fell almost 600 points, pulling other regional benchmarks lower with itself and leading to a negative action in the European equity futures.

    Still, losses are somewhat restricted, given China’s PMI index, printed above 50.00 and pointed to a mild expansion.
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