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Brent crude futures, the international benchmark for oil prices, was on Tuesday settling in around $70 per barrel, trading at $70.04 per barrel by 0213 GMT. Healthy demand and ongoing production cuts led by OPEC have supported oil prices.
U.S. West Texas Intermediate (WTI) crude futures were trading at $64.53 a barrel by 0213 GMT, up 23 cents, or 0.36 percent from their last settlement.
In stocks, MSCI’s broadest index of Asia-Pacific shares outside Japan pushed higher on Tuesday and added 0.4 percent, erasing early modest losses.
U.S. markets were closed for a public holiday on Monday.
In the Middle East, the Saudi index continued rising on Monday and added 0.6 percent, outperforming the rest of the region.
Saudi Basic Industries climbed 2.6 percent and shares in Kingdom Holding rose 2.7 percent.
In the UAE, Emaar Properties fell 1.4 percent, dragging down the Dubai index to close 0.5 percent lower. Deyaar was the most heavily traded stock and added 1.2 percent. Abu Dhabi's index added 0.4 percent.
Egypt's index edged down 0.8 percent with Commercial International Bank dropping 1.8 percent.
In currency markets, the dollar’s index against a basket of six major currencies stayed near three-year lows on Tuesday, but above Monday’s low.
Gold prices were trading higher on Tuesday supported by a weaker dollar.
In other news, average yields on Egypt's five- and 10-year treasury bonds fell at an auction on Monday, central bank data showed.
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Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2018
U.S. West Texas Intermediate (WTI) crude futures were trading at $64.53 a barrel by 0213 GMT, up 23 cents, or 0.36 percent from their last settlement.
In stocks, MSCI’s broadest index of Asia-Pacific shares outside Japan pushed higher on Tuesday and added 0.4 percent, erasing early modest losses.
U.S. markets were closed for a public holiday on Monday.
In the Middle East, the Saudi index continued rising on Monday and added 0.6 percent, outperforming the rest of the region.
Saudi Basic Industries climbed 2.6 percent and shares in Kingdom Holding rose 2.7 percent.
In the UAE, Emaar Properties fell 1.4 percent, dragging down the Dubai index to close 0.5 percent lower. Deyaar was the most heavily traded stock and added 1.2 percent. Abu Dhabi's index added 0.4 percent.
Egypt's index edged down 0.8 percent with Commercial International Bank dropping 1.8 percent.
In currency markets, the dollar’s index against a basket of six major currencies stayed near three-year lows on Tuesday, but above Monday’s low.
Gold prices were trading higher on Tuesday supported by a weaker dollar.
In other news, average yields on Egypt's five- and 10-year treasury bonds fell at an auction on Monday, central bank data showed.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here
Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2018
