- Oil prices dropped on news that a cargo ship blocking the Suez Canal had been refloated.
- Inflation caused by an expected strong global rebound will force central banks to wind back their ultra-loose monetary policies or hike interest rates.
- Both main oil contracts tumbled more than one percent after salvage teams were said to have finally freed a megaship that blocked the Suez Canal for almost a week.
A recent Live Mint news report reveals that oil prices drop and stocks rise as ship blocking Suez Canal is refloated.
Status of Asian markets
Asian markets mostly rose Monday, extending last week’s positive finish and tracking a record-breaking lead from Wall Street as investors focus on the economic recovery.
While oil prices dropped on news that a cargo ship blocking the Suez Canal had been refloated.
US prices and inflation
A below forecast reading on US prices on Friday provided support as it eased fears that inflation caused by an expected strong global rebound will force central banks to wind back their ultra-loose monetary policies or hike interest rates.
Present positive impact
The week ahead will provide plenty for traders to get their teeth into including the release of key US jobs data for March and figures on manufacturing activity around the world.
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Source: Live Mint
