Oil Slips as Kuwait Strike Ends - Investec
Research Team at Investec, notes that overnight, Kuwaiti oil and gas workers ended a three-day strike that had temporarily halved the OPEC member's crude production.
“The rally in oil has been interrupted as the news hits sentiment, with oil futures falling and Asian stocks suffering overnight. Chinese stocks in particular have been hit, attributed to an article earlier this week from the state news agency Xinhua. The news agency comment that while Chinese monetary policy will maintain a certain degree of looseness in coming months, prudence will feature more prominently than last year. A shift in stance or concern bubbles are growing too fast and time for some rhetoric to manage the situation?”
(Market News Provided by FXstreet)