Breaking News

Oil prices plunge; dragging European shares down.

News Date: 28/12/2015 09:36:42

Oil prices tumbled on renewed worries about global oversupply, and weakening growth in China and elsewhere, with Brent crude futures dropping 90 cents, or 2.40% to $36.98 a barrel. U.S. West Texas Intermediary (WTI) crude futures dove 105 cents, or 2.77% to $37.05 a barrel, keeping a slight premium over Brent.


European shares struggled thereafter, with energy companies heading the top fallers; also affecting them: a slump in Chinese shares of about 3.0% after industrial profits fell in November. The pan-European FTSEurofirst 300 index gave up 0.43% to 1,433. France's CAC lost 40 points, or 0.85% to 4,623. Germany's DAX dipped 74 points, or 0.70% to 10,652. Britain's FTSE is closed however for the day.


Euro performed well, touching a nearly-two-week high against the dollar at 1.0991, before steadying to 1.0971, up 0.1% for the day. It rose 0.2% against sterling to 0.7362. It advanced 0.24% against the yen to 132.20.


Commodities deepened their losses, with Silver futures sliding 32 cents, or 2.25% to $14.05 an ounce. Gold lost $5.40, or half a percent to $1,070 an ounce. Copper futures hit a ten-day low at $2.088, down 1.70% for the day.


Wall Street opened lower in tandem with their European counterparts, with Dow Jones giving up 75 points, or 0.43% to 17,477. NASDAQ slipped 18 points, or 0.36% to 5,030. S&P 500 slid 8.7 points, or 0.43% to 2,052.23.  


Latest news

Advertising sources reported that the number of confirmed cases of Covid virus 19 reached 12 million and 800 thousand cases, as the largest number of infections was recorded with a total of 839,850 c
07-2020 13 03:43:07

On Friday, oil prices continued to harvest more losses, retreating to the lowest levels, with the high rate of coronavirus infections in the United States of America, and due to fears of isolation an
07-2020 10 06:16:09

Oil prices fell today, Wednesday, after the increase in crude inventories, which increases the fears of supply. Therefore, it is expected that US crude production will decline by 600 thousand barrels
07-2020 08 08:20:53

Corona virus infection in the United States of America reached its maximum, reaching two million, 840 thousand and 906 cases, according to the Centers for Disease Control yesterday, after it recorded
07-2020 06 00:36:17

After the long collapse, the American labor market is achieving some relative recovery, as the number of added jobs yesterday reached 4,800 million jobs, which exceeded all expectations, and came as
07-2020 03 00:34:55

More News