- Stocks on Wall Street fall sharply.
- Oil prices fall more than 4%, approaching the lows of August.
The prices of Petroleum are falling significantly on Monday, in a day of sharp declines in financial markets. The barrel of WTI falls 4.30% and operates at the lowest since last Wednesday, approaching the lows of August.
the barrel of WTI (on platforms) is located in the area of ​​$87.00, almost five dollars below the high of Friday. The setback accelerated in the last hour due to reports that there would be an understanding between the US and Iran, reestablishing the “nuclear agreement”.
In turn, the poor prospects for economic growth they weigh on the price of oil and also on the price of shares. The Dow Jones is down 1.40%, while the Nasdaq is down 2.03%.
Another negative factor for the price of crude oil is the rise in the dollar. The Dollar Index (DXY) is up 0.57%, and is trading at the highest since July 14, on track for the highest close in decades.
Technical levels
Source: Fx Street
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