world markets news in brief

World Markets Daily News – In Brief – Wednesday 06/07/2022



ASX slides lower as oil plunge weighs

The Australian sharemarket has fallen in morning trade as recession fears and plunging oil prices hurt resources stocks.


Asian Markets Mostly Lower On Recession Worries

Asian stock markets are trading mostly lower on Wednesday, following the mixed cues overnight from Wall Street


European markets jump as investors look to reverse negative slide; Stoxx 600 up 1.3%

European stocks bounced on Wednesday as markets attempted to reverse a negative slide in the previous trading session.


Oil prices bounce back from Tuesday tumble as supply concerns return

Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger.

Gold prices edge up as dollar rally eases

Gold found temporary respite on Wednesday after touching a near seven-month low in the previous session, as the dollar paused for breath after a blistering surge to 20-year highs.

. FT (UK)

Russia’s war helps Qatar boost its influence over global energy flows

Search for alternatives in wake of Ukraine invasion gives Gulf state a big lift as it seeks to develop a major gasfield

. WSJ (US)

Recession Fears, Slowing Demand Tip Oil Below $100

West Texas Intermediate fell 8.2% to $99.50 a barrel, as traders’ attention shifted to the possibility that a downturn in economic growth could cool demand for fuel.