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Oil firmer on OPEC offer, equities not able to shake pandemic worries

Byindianadmin

Apr 13, 2020 #fears, #pandemic
Oil firmer on OPEC  offer, equities not able to shake pandemic worries

TOKYO (Reuters) – Global shares fell on Monday as investors braced for more signs of financial damage from the coronavirus pandemic although a landmark deal by OPEC and its allies to slash output assisted oil rates climb in unpredictable trade.

FILE PHOTO: A pedestrian using a face mask walks near an overpass with an electronic board revealing stock details, following a break out of the coronavirus illness (COVID-19), at Lujiazui monetary district in Shanghai, China March 17,2020 REUTERS/Aly Song

The Nikkei N225 fell 1.4%while MSCI’s broadest index of Asia-Pacific shares outside Japan.MIAPJ0000 PUS slipped somewhat, with South Korean shares KS11 falling 0.9%.

U.S. S&P 500 mini futures EScv1 dropped 1.54%, removing a short gain to a one-month high made right after the start of trading.

Financial markets in Australia and Hong Kong were closed while in mainland China, the CSI300 index CSI300 lost 0.6%in early trade.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 7.3%at $2443 per barrel in highly unpredictable trade, having actually fallen more than 3%to $2203 earlier in the session.

A group of oil producing nations known as OPEC , that includes Russia, stated it had actually consented to minimize output by 9.7 million barrels per day (bpd) for May-June, after four days

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