2023-09-06 16:41:03
© Archyde.com. Asian stock markets closed the morning lower. After Saudi Arabia-Russia extends oil supply cuts
InfoQuest – Asian stocks ended mostly negative on Tuesday (Sept. 6) following Saudi Arabia and Russia extended voluntary oil supply cuts until the end of the year.
The Tokyo Stock Exchange’s Nikkei Index closed the morning at 33,262.48 points, up 225.72 points or +0.68%, while the Hong Kong Stock Exchange’s Hang Seng Index closed in the morning at 18,306.24 points, down 150.67 points or -0.82% and the Shanghai Composite Index. The Chinese stock market closed the morning at 3,143.62 points, down 10.75 points or -0.34%.
Saudi Arabia to extend oil production cuts by 1 million barrels per day until the end of December. Meanwhile, Russia will extend the cut in oil exports by 300,000 barrels per day until the end of December.
Brent crude futures settled at $90.04 per barrel on Tuesday (Sept. 5), closing above $90 for the first time since November. US WTI crude futures traded near $86.87 a barrel. which was the highest in nearly 10 months.
All three major U.S. stock indices fell on Tuesday (Sept. 5) as a rally in crude oil prices weighed on stocks.
The Dow Jones Industrial Average was down 0.56%, the S&P 500 was down 0.42% and the Nasdaq Composite was down 0.08%.
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