Oil, equities slip as OPEC+ cut fails to lift confidence
Oil prices and US stock futures dipped in early Monday trade as a landmark agreement by OPEC and its allies to slash output by a record amount failed to give investors any cause for lasting optimism about the economic outlook.
US S&P 500 mini futures dropped 1.54 per cent, erasing a brief gain to a one-month high made right after the start of trading.
Nikkei futures traded in Chicago suggest Tokyo’s benchmark is likely to slip about 0.2 per cent.
US crude futures dropped to $22.67 per barrel, down 0.4 per cent as they quickly erased earlier gains to hit the lowest level since April 2.
Brent futures were down 0.67 per cent at $31.27 per barrel, having risen to $33.99.
