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NEW YORK (Reuters) – Oil prices bounced up on Wednesday, as hopes for some cuts in fuel prices rebounded from the previous session, and the European and British British Prime Minister Theresa May got her cabinet back for her Brexit deal.
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 12, 2018. REUTERS / Brendan McDermid
A gauge of global stock markets for a fifth straight session, following a volatile session on Wall Street that left major U.S. indexes well in the red.
U.S. natural gas futures surged 17.9 percent and are at their highest levels since the wind vortex winter of 2013-14 on forecast for frigid weather. Oil rose after 12 days of losses on the prospect that the producers will cut the output at a meeting next month.
U.S. crude CLc1 settled up 1 percent at $ 56.25 per barrel and Brent LCOc1 settled at $ 66.12 a barrel, up 1 percent. Benchmark Brent has fallen more than 20 percent since early October.
"However," said Gene McGillian, vice president of market research for Tradition Energy in Stamford, Connecticut.
Major U.S. stock indexes slid but ended off of session lows.
The Dow Jones Industrial Average .DJI fell 205.99 points, gold 0.81 percent, to 25.080.5, the S & P 500 .SPX lost 20.6 points, 0.76 percent gold, to 2.701.58 and the Nasdaq Composite .IXIC dropped 64.48 points, or 0.9 percent, to 7,136.39.
Financial shares .SPSY dropped 1.4 percent, after Representative Maxine Waters, US House of Representatives Financial Services Committee in January, made clear to push for stricter rules on the financial sector.
The technology sector .SPLRCT fell 1.3 percent, continuing its decline since October. Shares of Apple (AAPL.O), the largest U.S. company by market value, dropped for a fifth straight session.
"One of the biggest factors in the market," said Peter Tuz, president of the Chase Investment Counsel in Charlottesville, Virginia.
The pan-European STOXX 600 index lost 0.60 percent.
European shares hit their lowest in two weeks in a broad-based sell-off across oil, mining, technology and banking stocks amidst global economic slowdown and Italy's budget crisis.
MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.43 percent, its fifth straight daily decline.
The euro and the sterling gains of the law and the future of the law.
Sterling GBP = was last trading at $ 1.2999, up 0.22 percent on the day, with the euro EUR = up 0.23 percent to $ 1.1315.
The dollar index .DXY, which measures the greenback against a basket of currencies, fell 0.35 percent.
U.S. Treasury yields fell as investors in the world's largest economy.
Benchmark 10-year Treasury notes US10YT = RR last rose 5/32 in price to yield 3.1268 percent, from 3.145 percent late on Tuesday.
Additional reporting by Devika Krishna Kumar, Richard Leong, April Joyner and Gertrude Chavez-Dreyfuss in New York, Pete Schroeder in Washington; Editing by Tom Brown, Dan Grebler and David Gregorio
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