Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Brent Steady At $114 As Global Economy Improves

ByBenzinga
AuthorBenzinga
Published 09/03/2013, 10:29 AM
Updated 05/14/2017, 06:45 AM

Brent crude oil lost ground on Tuesday morning as concerns about a military strike in Syria eased. However, Brent held steady above $114 on hopes of a global demand revival sparked by the improving global economy. The commodity traded at $114.20 at 5:21 GMT on Tuesday morning.

China, the US and Europe have all released a steady stream of positive economic data recently, which has built up hope that the global economy has turned a corner. Now, investors will be anxious to see US jobs data, which is due out on Friday, for a clearer picture of the US economy.

The jobs data will likely play into the US Federal Reserve's plans to cut down on its stimulus spending. After days of trading on uncertainty in Syria, the Fed's taper will likely move to the forefront this week.

Despite Barack Obama's best efforts to convince Congress to support his plan to launch a military attack in Syria, CNBC reported that members from his own Democratic Party expressed concern over the idea on Monday. Lawmakers are worried that the US will be drawn into more Middle Eastern conflict if a military strike is carried out.

France released an intelligence report which claimed the chemical weapons attacks in Syria were coordinated by President Bashar al-Assad and his government. However, despite the evidence, there is a real lack of support for military intervention in the West, which is keeping the US from acting. Most see any military strike from the US as being quite small and unlikely to pull Syria's oil rich neighbors into the conflict.

BY Laura Brodbeck

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.