European Shares and Bonds Rise as Oil Prices Stabilize

0
51
oil drums

Lower temperatures around the world have helped oil prices stabilize on Tuesday morning. European stocks rose on the news, and bond yields also edged up due to the price stabilization.

Falling oil prices have helped financial markets this year while harming energy companies around the world. Lower inflation expectations and monetary policy adjustments in Europe were also dictated by the price of oil plummeting.

West Texas Intermediate futures for oil were up to $37.02 a barrel, up $.21, on Tuesday following a 3% decline on Monday. Brent crude oil is currently at $36.82 a barrel, up $.20 on the day. The rising prices are good news for energy-related companies, but oil is still less than a dollar higher than the 11-year low hit earlier in the month.

Analysts believe that if oil can push beyond the $37 per barrel mark that European stocks will be able to hold onto gains for the day.

Major indices across Europe are up on the day, with the German DAX up 1.53%, the FTSE 100 rising 0.55%, and France’s CAC 40 inching up 1.56% on the day. The S&P/ASX 200 is also up 1.15% on the day as well as the Euro Stoxx 50, which is up 1.5% on Tuesday.

LEAVE A REPLY

Please enter your comment!
Please enter your name here