{"id":33818,"date":"2022-06-02T17:27:35","date_gmt":"2022-06-02T17:27:35","guid":{"rendered":"https:\/\/harchi90.com\/shares-steady-as-oil-drops-on-talk-of-output-boost\/"},"modified":"2022-06-02T17:27:35","modified_gmt":"2022-06-02T17:27:35","slug":"shares-steady-as-oil-drops-on-talk-of-output-boost","status":"publish","type":"post","link":"https:\/\/harchi90.com\/shares-steady-as-oil-drops-on-talk-of-output-boost\/","title":{"rendered":"Shares steady as oil drops on talk of output boost"},"content":{"rendered":"<div>\n<div class=\"article-body__context_widget__1xxEe article-body__element__2p5pI\">\n<div class=\"context-widget__content__1X4Oq\">\n<ul class=\"summary__summary__31feP\">\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">MSCI gauge of world stocks flat, dollar down<\/li>\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">Brent crude prices slide as much as 3%<\/li>\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">Saudi, OPEC may offset Russian output loss<\/li>\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">German yields at 8-yr highs on ECB rate hike bets<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">MILAN, June 2 (Reuters) &#8211; World shares were largely steady on Thursday after recent weakness as bets Saudi Arabia may boost crude production cooled down oil prices, helping balance concerns over surging inflation and monetary policy tightening.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The MSCI&#8217;s benchmark for global stocks (.MIWD00000PUS) was flat at 647.8 points by 1051 GMT, supported by gains in Europe which offset earlier weakness in Asia where investors were put off by concerns over high inflation and the threat of recession.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Derivative markets pointed to a positive start later in the United States following losses on Wednesday when economic data failed to ease angst over rate hikes to fight inflation.<\/p>\n<div class=\"registration-prompt__container__2jf5K registration-prompt__inline__2WDU- article-body__element__2p5pI article-body__inline-registration-prompt__1-N9W\">\n<div class=\"registration-prompt__text-content__o0YET\">\n<h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__3fq-h\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__3kTtQ\" type=\"button\"><\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Crude oil fell as much as 3% ahead of an OPEC + producers&#8217; meeting later in the day, and after the Financial Times reported the Saudis were prepared to raise production if Russia&#8217;s output falls substantially because of Western sanctions.<\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">&#8220;None of that will alleviate the refining bottleneck \/ crunch that is causing petrol and diesel prices to soar globally, but it would be a rare piece of good news for the global economy and the inflation fight,&#8221; said OANDA analyst Jeffrey Halley.<\/p>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">&#8220;It certainly isn&#8217;t in OPEC&#8217;s interests to send the world into a recession,&#8221; he added.<\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Two OPEC + sources said the organization was working on making up for a drop in Russian oil output which has fallen by around 1 million barrels per day as a result of Western sanctions on Moscow over Ukraine.  read more <\/p>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The pan-European STOXX 600 (.STOXX) index was 0.5% higher, although volumes were expected to be subdued as London markets were shut for Queen Elizabeth&#8217;s Platinum Jubilee bank holidays.<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">In the United States, S&#038;P 500 and Nasdaq e-mini futures were up 0.6% and 0.8% respectively.<\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">In Asia, stocks caught up with Wednesday&#8217;s weakness on Wall Street, slipping for a second straight session, on concern over high inflation and the threat of recession.<\/p>\n<p data-testid=\"paragraph-10\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">A new survey of South Korean factory activity showed slowing growth in May as import and export orders shrank, the latest indicator of global manufacturing woes.  read more <\/p>\n<p data-testid=\"paragraph-11\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">MSCI&#8217;s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.8%.  Seoul&#8217;s KOSPI (.KS11) was down 1% and in Tokyo, the Nikkei (.N225) slipped nearly 0.2%.<\/p>\n<p data-testid=\"paragraph-12\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Investors&#8217; worries over inflation and recession have festered amid uncertainty caused by the US Federal Reserve&#8217;s pace of interest rate hikes, the impact of the Russia-Ukraine war on food and commodity prices, and supply chain constraints exacerbated by strict COVID-19 curbs in China .<\/p>\n<p data-testid=\"paragraph-13\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Global benchmark Brent crude oil declined 2.6% to $ 113.3 per barrel ahead of the OPEC + meeting and US crude prices fell 2.7% to $ 111.2.<\/p>\n<p data-testid=\"paragraph-14\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Carlos Casanova, senior Asian economist at Union Bancaire Privee in Hong Kong, said that an increase in Saudi production could see oil prices stabilize around $ 100- $ 110 per barrel.<\/p>\n<p data-testid=\"paragraph-15\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Under a hypothetical bearish scenario where oil were to reach $ 150 and agricultural commodity prices rise further, Morgan Stanley expects the euro area economy to fall into an &#8220;outright&#8221; recession that would drag into the first half of 2023.<\/p>\n<p data-testid=\"paragraph-16\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The dollar index fell 0.4% to 102.16, reversing part of Wednesday&#8217;s gains.  That helped the euro climb 0.4% to $ 1.069, following two days of losses.<\/p>\n<p data-testid=\"paragraph-17\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The Swiss franc hit a one-month high against the euro after Swiss inflation soared to its highest in 14 years in May as transport, food and drinks became more expensive.  It later pared gains to trade down 0.05%.  read more <\/p>\n<p data-testid=\"paragraph-18\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Benchmark 10-year German yields hit a new 8-year high at 1.231%, as inflation data this week boosted expectations that the European Central Bank might move faster in tightening policy.  They were last up 2.6 basis points (bps) on the day.<\/p>\n<p data-testid=\"paragraph-19\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">US 10-year yields were flat at 2.9113% and the two-year yield rose 0.8 bps to 2.656%.<\/p>\n<p data-testid=\"paragraph-20\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The lower yields and the retreat in the US dollar kept gold prices supported.  Spot gold was up 0.5% at $ 1,855.5 per ounce.<\/p>\n<div class=\"registration-prompt__container__2jf5K registration-prompt__inline__2WDU- article-body__element__2p5pI\">\n<div class=\"registration-prompt__text-content__o0YET\">\n<h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__3fq-h\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__3kTtQ\" type=\"button\"><\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off__text__PU3Aj\">Reporting by Danilo Masoni and Andrew Galbraith;  Editing by Chizu Nomiyama<\/span><\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Our Standards: The Thomson Reuters Trust Principles.<\/p>\n<\/div>\n<p>    .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSCI gauge of world stocks flat, dollar down Brent crude prices slide as much as 3% Saudi, OPEC may offset Russian output loss German yields at 8-yr highs on ECB rate hike bets MILAN, June 2 (Reuters) &#8211; World shares were largely steady on Thursday after recent weakness as bets Saudi Arabia may boost crude &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/shares-steady-as-oil-drops-on-talk-of-output-boost\/\"> <span class=\"screen-reader-text\">Shares steady as oil drops on talk of output boost<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[56,73,70,66,72,1008,24,26,28,29,1011,54,30,67,32,33,3063,58,1009,34,35,36,37,2534,258,71,41,42,21,64,44,45,16262,16263,46,1817,47,22,48,75,57,53],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/www.reuters.com\/resizer\/QYbODIiZkwNmL2KM84oo0iqF0MU=\/1200x628\/smart\/filters:quality(80)\/cloudfront-us-east-2.images.arcpublishing.com\/reuters\/WDAQNZTDEZIWTHQTUTHRVTPQ6A.jpg","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/33818"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=33818"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/33818\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=33818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=33818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=33818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}