Skip to main content

January Brent catches another bid as stock markets continue to rise

The European stock markets are making further progress right now. That is well demonstrated by there price action in the DAX. The index has now brushed aside the weak unemployment data (as seemed likely and noted here earlier) and risen above 15,150 and towards 15,175. The appetite for stocks seems pretty insatiable right now. US futures are of course higher too and that means the S+P 500 is very likely to reopen above that 200 day moving average, as the futures price rises towards 4,265. So, this has all fed nicely into the oil markets and the price gf January Brent has lifted back above $86 per barrel again, from earlier lows near $85.25. It is still well south of the highs above $87 seen yesterday, but well off the lows since then too. Obviously the lack of Mid East contagion is a barrier, but then further stock gains are adding support it seems too. January Brent is just now trading at $86.05
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!