Asian stocks fall and oil climbs again over Iran war de-escalation uncertainties
BNN Bloomberg
Asian stocks traded lower and oil prices rose back to around US$100 per barrel on Thursday as a de-escalation of the Iran war remained uncertain.
U.S. futures were down 0.5 per cent.
Tokyo’s Nikkei 225 was trading 0.3 per cent lower at 53,603.65. South Korea’s Kospi lost 3.2 per cent to 5,460.46.
Hong Kong’s Hang Seng fell 1.9 per cent to 24,856.43, while the Shanghai Composite index was down 1.1 per cent to 3,889.08.
Australia’s S&P/ASX 200 edged down 0.1 per cent, while Taiwan’s Taiex was trading 0.3 per cent lower.
Oil prices were up again on Thursday. Brent crude, the international standard, rose 3.3 per cent to $100.41 per barrel. It was below $95 on Wednesday. Benchmark U.S. crude was 3.8 per cent higher at $93.74 a barrel.
Mining analyst sees copper, gold and lithium stocks benefiting from supply constraints, electrification and long-term demand trends.
An oil refinery fire near the Texas coast was put out Tuesday and a shelter-in-place order was lifted following air-quality testing, hours after a large explosion at the complex shot plumes of smoke into the air, officials said.
A U.N. Security Council resolution calling for countries to use “all necessary means” to keep the Strait of Hormuz open is facing some opposition for raising the possibility of U.N.-backed military action against Iran, according to three council diplomats.
The Trump administration is working with Canada on permits required for a proposed revival of part of the Keystone XL oil pipeline, a White House official said on Tuesday.
Google is arguing it shouldn’t have to pay about $370,000 in legal fees and other costs the Competition Commissioner is seeking after the tech giant lost a constitutional challenge.
Canadian officials spoke to Trump administration representatives about a proposed revival of part of the canceled Keystone XL oil pipeline in a meeting in Houston this week, Canada’s Natural Resources Minister Tim Hodgson said Tuesday.
Oil above US$100 is adding pressure on equities as geopolitical risks and uncertainty over inflation and growth cloud the outlook.
Top Picks from Martin Cobb, Senior Vice-President, Equities, Lorne Steinberg Wealth Management
The chief executive of National Bank of Canada says he’s not changing the bank’s strategy because of the war in the Middle East, but he is urging a faster response from Canada to rising threats abroad.
With airstrikes still battering Iran and missiles still targeting sites across the Middle East, some of the optimism that sent stocks rallying the day before drained out of Wall Street on Tuesday. Oil prices got back to rising, and U.S. stocks are returning some of their gains.
A large explosion at an oil refinery near the Texas coast shot plumes of smoke into the air and forced nearby residents to shelter in place, officials said.
Oil prices rise and stocks fall as war with Iran still advances despite Trump’s talk of negotiations
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.