In the following hours, the session was marked by positive sensations in Asian marketsparticularly on the Hong Kong and Japanese stock exchanges, whose main indices rose close to 2% and 3%, respectively.
The spirit reaches the most important European squares, where gains are recorded between 1.5% and 2.8%. Lisbon also follows the same path, as the PSI index advances 1.35% at 10 am this Tuesday. It is therefore approaching the nine thousand points mark, which it reached for the first time around a month ago.
The feeling is transversal to all sectors, with the exception of energy. Companies that sell oil and natural gas have risen significantly in value in the recent past and are now falling sharply, in a movement that is linked to the falls recorded in futures.
This is the case of Galp, which fell by almost 3%. TotalEnergies, Eni and Repsol also recorded declines, around 1.5%.
Oil falls significantly
The price of a barrel is falling, given the idea that the war could end sooner than investors expected. After reaching a peak of US$118 (maximum of 2022) in the early hours of Sunday to Monday, the Brent falls 7.24% to $91.80 per barrel.
In part, investor panic is linked to another promise from the US president. Donald Trump said, also this Monday, that the price of oil should fall in the near future.
This is the European benchmark for oil futures contracts. Demand has soared since Monday, due to the certainty of a sharp reduction in available supply on the market, driving up the price.
At the same time, o WTI (equivalent for the US market) contracts 7.02% and remains at 88.12 dollars per barrel.
Also the contracts natural gas futures have become more expensive since last week and now are falling 12.38%. At issue was also the idea of a aggressive cut in production and supply, which could however be mitigatedif Trump’s words are fulfilled.
Leave a Reply