SYDNEY (Reuters) – Oil costs skidded on Monday after Saudi-Russian settlements to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and brand-new cases.
FILE PHOTO: A pump jack operates in front of a drilling rig at sundown in an oil field in Midland, Texas U.S. August 22,2018 REUTERS/Nick Oxford/File Picture
In currency markets, sterling fell 0.4?rly in Asia after British Prime Minister Boris Johnson was confessed to healthcare facility following consistent coronavirus signs 10 days after evaluating favorable for the virus.
Brent crude fell as much as $4 after Saudi Arabia and Russia postponed their conference, at first arranged for Monday, to Thursday even as the infection pandemic pummels need.
Equity investors, however, took solace as the death toll from the coronavirus slowed throughout significant European nations including France and Italy.
” With a really light calendar internationally today, there suffices momentum to keep the equity rally