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Brent crude for August delivery falls below $80
Just ahead of the US ISM data and as the US PMI data is about to be revised for May, Oil prices have taken a hit. Asking contacts, we see now discernible news to attribute the move to. The price of Brent for August delivery has just now fallen to below $80 a barrel for the first time in a long while and the fall comes as US stocks rotate between losses in the Dow Jones and gains in the Nasdaq 100. That S+P Global manufacturing PMI data has just been revised higher, to 51.3 from 50.9. Brent is right now trading at $79.75
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Dow Jones slides more than 600 points as White House tries to spin the positive
As expected the US stock markets slid into the opening and that has seen more than 2% falls for the Nasdaq 100 and the S+P 500. Meantime, the Dow...
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Dissecting the US data as US stock futures fall- check out the Nasdaq 100 futures right now
Following on from the previous update, noting the fall in US Q1 flash GDP at the same time as prices have risen, here is some more colour and opinion...
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US flash Q1 GDP falls and core PCE prices rise more than forecast- USD/JPY rises and falls
The very important US Q1 GDP estimate and core PCE price index have just been released. The flash estimate for Q1 GDP has shown a fall of 0.3% . That...
