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Oil Prices Ease as Asian Shares Follow Wall Street Higher
Oil became slightly cheaper after rising earlier in the week.
Brent oil was trading close to USD 95 per barrel.
Asian stock markets mostly went up on Thursday.
They followed gains in the United States, where major stock indexes also rose.
Technology companies did especially well because investors saw strong demand for artificial-intelligence products.
Dell Technologies had strong quarterly profits and its shares jumped.
Fighting involving the United States and Iran had pushed oil prices higher earlier in the week.
President Donald Trump said the US bombing campaign might not continue much longer.
Brent crude fell 0.4% to USD 95.26 a barrel, while US crude slipped 0.1% to USD 90.84.
Asian stocks broadly advanced, led by a 1.4% rise in South Korea’s Kospi.
Wall Street gained Wednesday, with the S&P 500 up 0.5%, the Dow 0.6%, and Nasdaq 0.5%.
Technology shares rose after strong results and encouraging artificial-intelligence demand signals from Dell Technologies and Palo Alto Networks.
The Japanese yen strengthened against the US dollar as investors watched energy, inflation, debt, and geopolitical risks.
- Who
- Investors, Asian and US companies, the United States, Iran, and President Donald Trump.
- What
- Oil prices edged lower while Asian and US stocks rose.
- Where
- Asian markets, Wall Street, and international oil markets.
- When
- Thursday, following Wall Street’s gains on Wednesday; the US employment report is due Friday.
- Why
- Oil eased after earlier war-related gains, while stocks benefited from technology and artificial-intelligence demand signals and recent Wall Street gains.
Key facts
- Brent crude
- Down 0.4% to USD 95.26 per barrel
- US crude
- Down 0.1% to USD 90.84 per barrel
- South Korea’s Kospi
- Up 1.4% to 6,656.81
- S&P 500
- Up 0.5% on Wednesday
- Dell Technologies
- Shares surged 15.8% after strong quarterly profits
- US 10-year Treasury yield
- Fell to 4.77% from above 4.81%
- Japanese yen
- The dollar fell to 157.78 yen from 158.71 yen
Sources
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