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Asia shares cheered by Sino-.U.S. trade progress

Asian share markets pushed higher on Monday as signs of progress in the Sino-U.S. trade standoff whetted risk appetites, while pressuring safe-haven bonds and the yen. Liquidity was lacking, however, with Japan off and a partial market holiday in the United States for Columbus Day. MSCI™s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged up 0.5%. Australia's main index gained 0.9% and South Korea .KS11 firmed 1.3%. While Tokyo was on holiday, Nikkei futures were...

Oil Market Gripped With Uncertainty Over Lost Saudi Production
Tuesday, 17 September 2019 14:01 WIB | ENERGY |MinyakWTIBrentMinyak MentahOil,

Oil markets are grappling with uncertainty over how long it will take Saudi Arabia to restore output after the devastating attacks that knocked out 5% of global crude supply.

As state oil producer Saudi Aramco grows less optimistic that there will be a rapid recovery after the strikes that cut the nation™s output by half, investors are looking for clarity on just how bad it could be. Initially, it was said significant volumes could begin to flow again within days but Saudi officials later told a foreign diplomat they face a œsevere disruption measured in weeks and months.

The market was relatively calm on Tuesday after the previous day's fireworks, when Brent surged by almost $12 a barrel, before settling just above $69 for the biggest one-day percentage gain since the contract began trading in 1988.

Brent futures lost 73 cents, or 1.1%, to $68.29 a barrel on the ICE Futures Europe exchange as of 12:30 p.m. in Singapore, while WTI fell 1.4% to $62.03 on the New York Mercantile Exchange. Brent is trading at $6.50 premium to WTI for the same month.

Source : Bloomberg

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POPULAR NEWS
Asia shares cheered by Sino-.U.S. trade progress

Asian share markets pushed higher on Monday as signs of progress in the Sino-U.S. trade standoff whetted risk appetites, while pressuring safe-haven bonds and the yen. Liquidity was lacking, however, with Japan off and a partial market holiday in the United States for Columbus Day. MSCI™s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged up 0.5%. Australia's main index gained 0.9% and South Korea .KS11 firmed 1.3%. While Tokyo was on holiday, Nikkei futures were...

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