Morning Briefing: Kuwait oil strike ends, prices drop

Morning Briefing: Kuwait oil strike ends, prices drop

Morning Briefing: Kuwait oil strike ends, prices drop Kuwait oil strike ends, prices drop
The strike which saw oil supply from Kuwait slump has ended. And with the end of the strike comes a new decline for oil prices. Despite holding above $40 US crude is more than 2 per cent lower so far Wednesday.

There is also data showing increased US stockpiles and the failure of the Doha meeting adding to global supply concerns.

Equities are under pressure with Asian markets closing mixed; Shanghai down the most with Hong Kong and Seoul also lower; Tokyo and Sydney closed higher.

European markets are generally lower with oil and regional earnings weighing on the main indexes.
Wall Street and Toronto are expected to open lower.
 
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North America (previous session)
US Dow Jones 18,053.60 (+0.27 per cent) +2.56 per cent +1.28 per cent
TSX Composite 13,867.28 (+1.07 per cent) +2.74 per cent -10.03 per cent
 
Europe (at 5.30am ET)
UK FTSE 6,371.73 (-0.52 per cent) +2.94 per cent -9.65 per cent
German DAX 10,330.68 (-0.18 per cent) +3.82 per cent -13.13 per cent
 
Asia (at close)
China CSI 300 3,181.03 (-1.77 per cent) +0.29 per cent -29.65 per cent
Japan Nikkei 16,906.54 (+0.19 per cent) +1.09 per cent -13.89 per cent
 
Other Data (at 6.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
43.39
(-1.45 per cent)
40.21
(-2.12 per cent)
1250.90
(-0.27 per cent)
U$0.7892
 
Aus. Dollar
U$0.7814
 
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