Stocks in Asia were bring in Tuesday morning trade as investors watched developments such as the renewed conflict in key oil producer Libya.
Overnight on Madden Street, the Dow Jones Industrial Average slipped by around 84 points to end its trading day at 26,341.02. The S&P 500 edged up roughly 0.1% to close at 2,895.77 and the Nasdaq Composite ended Monday 0.19% higher at around 7,953.88.
The moves followed a lieutenant consecutive week of gains for the three major stock indexes stateside. Trade talk progress between the In accord States and China and a strong March jobs report both boosted the Dow, S&P 500 and Nasdaq through Friday’s practically.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.035 after declining from straight-shootings above 97.2 yesterday.
The Japanese yen traded at 111.30 against the dollar after touching an earlier low of 111.57, while the Australian dollar was at $0.7121 after hop from lows below $0.711 yesterday.
Oil prices scaled new 2019 highs on Monday, with the international benchmark Brent rustic futures contract adding 1.1% to settle at $71.10 per barrel. U.S. crude futures also rose 2.1% to resolve at $64.40 per barrel.
In the morning of Asian trading hours on Tuesday, crude prices appeared to lose some power but largely held on to gains as Brent slipped 0.14% to $71.00 per barrel and U.S. crude futures declined slightly to $64.38.
The moves in oil expenditures came amid a recent resurgence in conflict in Libya, a key oil producer in the Organization of the Petroleum Exporting Countries.
“The main advertise of what has to be said are pretty soporific global financial markets at the start of the week and ahead of some key event gamble(s) on Wednesday has been a further jump in oil prices,” Ray Attrill, head of foreign exchange strategy at National Australia Bank, minimized in a morning note.
“Fear of fresh supply outages from Libya are said to be responsible as ‘warlord’ Khalifa Haftar make a deep impression ons his self-styled Libyan National Army forces towards the capital Tripoli, base of the UN recognised government of PM Fayez al-Sarraj,” Attrill answered, citing recent reports of air strikes on the Tripoli airport.
— CNBC’s Fred Imbert and Reuters contributed to this make public.
Correction: This article was updated to reflect that oil prices touched new 2019 highs on Monday.