Global Shares Are Mixed and Oil Slips After OPEC+ Plans August Output Hike
Seven OPEC+ members plan to raise output by 188,000 barrels a day in August, pushing U.S. crude and Brent lower.
- Asian shares were mixed on Monday following a long weekend on Wall Street, with technology stocks pulling benchmarks in Tokyo and Seoul lower.
- Oil prices slipped after OPEC announced Sunday that seven members plan to expand production by 188,000 barrels per day in August, the fifth consecutive monthly increase.
- Brent crude lost 0.5 percent to near four-month lows, while tech giant SoftBank Group Corp declined 3.4% and Tokyo Electron shed 1.4% as regional indices faced selling pressure.
- Cooling energy costs and a softer payrolls report led markets to scale back Federal Reserve rate hike risks, with futures implying a 78 percent chance of steady policy.
- Investors now focus on the looming earnings season and the AI boom, while President Donald Trump heads to Turkey this week for a NATO meeting.
34 Articles
34 Articles
Global shares mixed as US futures rise; oil slips after OPEC+ plans August output hike - Regional Media News
TOKYO (AP) - European shares advanced Monday after a retreat in Asian markets and U.S. futures climbed ahead of Wall Street's reopening following the Independence Day holiday. Oil prices slipped after OPEC+ announced Sunday that seven of its members plan to expand oil production by a combined total of 188,000 barrels per day in August. It was the fifth straight month that OPEC+ members have agreed to raise output. The countries increasing their …
Global shares are mixed and oil slips after OPEC+ plans August output
TOKYO (AP) — European shares advanced Monday after a retreat in Asian markets and U.S. futures climbed ahead of Wall Street’s reopening following the Independence Day holiday. Oil prices slipped after OPEC+ announced Sunday that seven of its members plan to expand oil production by a combined total of 188,000 barrels per day in August. It was the fifth straight month that OPEC+ members have agreed to raise output. The countries increasing their …
The Toronto Star
US futures rise and Asian shares trade mixed as oil prices decline with increased output
TOKYO (AP) — Asian shares were mixed, while U.S. futures rose Monday following a long weekend on Wall Street, while selling of technology shares pulled benchmarks in Tokyo and Seoul
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