Oil rises after Trump withdraws from the deal with Iran

Oil rose during the Asian trading session after President Donald Trump announced that the US would withdraw from the nuclear agreement with Iran and re-sanction the country. This has led to an increase in oil prices.
US crude oil rose $1.58 to $70.64 a barrel after it fell by 1.67 dollars to 69.06 dollars a barrel on Tuesday. Brent rose 1.85 dollars to 76.70 dollars a barrel, after losing the previous day of 1.32 dollars.
Meanwhile, the Japanese Nikkei 225 fell 0.4 percent to 22 412.96 points, while the South Korean leading index lost 0.1 percent of its value. Hang Seng, Hong Kong, added 0.5% to 30 552.57 points.
According to market observers, geopolitical risks are rising, especially related to Iran and the price of oil.

The dollar took a breather

The central event in world markets is still the news of the US withdrawal from the nuclear deal with Iran. This news has pushed up the prices of crude oil, which are already getting support on the wave of the still-ongoing OPEC pact and the decline in oil and petroleum products in the States.
The foreign exchange market was characterized by low activity yesterday. The dollar first accumulated gains in the European session, but then lost almost all of its growth against the background of weaker than expected data on industrial inflation in the US.
According to the data provided, the producer price index (PPI) in annual terms grew less than expected. It was assumed that the indicator will add 2.8%, but it grew by only 2.6% against the growth for the previous period under review by 3.0%. On a monthly basis, the index added 0.1% against the forecast of an increase of 0.2% and growth in March by 0.3%. The base value of the producer price index (PPI) also declined year-on-year, adding only 2.3% against expectations of 2.4% and the previous value of 2.7%.
The US dollar on the wave of these figures stopped pressure on major currencies and rolled back from the local peaks.

US stocks fell due to Trump's decision to withdraw from the Iranian contract

US stocks fell on Tuesday after President Trump announced his intention to abandon a nuclear deal with Iran. The S&P 500 fell 0.03% to 2,671.92. At the same time, seven of the 11 main sectors completed trading in the red zone. The Dow Jones index added 0.01% to 24360.21. The Nasdaq index rose by 0.02% to 7130.70. Strengthening of the dollar continued: the ICE dollar index, which rates the US dollar to a basket of six major currencies, rose by 0.3% to 90,055 and now it continues to grow. Futures on the stock indices indicate mixed opening today.
President Trump's statement that the US is withdrawing from a multilateral nuclear deal with Iran, concluded in 2015, has become the main driver of the market, as the reporting season for the first quarter ends. So far, 78% of S&P 500 component companies reported earnings that were higher than expected. But optimistic reports have not provided the expected increase in the stock market, as investors are concerned about the impact of tightening the monetary policy of the Fed and the possibility of a trade war between the US and China.

Trump failed the cryptomarkets

Major cryptocurrencies on Wednesday are falling in price, as world markets are in turmoil after US President Donald Trump broke off a nuclear deal with Iran. At the same time, after a significant collapse on Tuesday evening, on Wednesday, the rate of decline of the cryptocurrencies has slowed somewhat and, probably, in the short term it will be already on such significant levels.
The bitcoin rate declined 0.13% overnight, to $9,112 with a capitalization of $155.7 billion. The rate of Litecoin was weakened by 3.25% to 154.6 dollars with capitalization $8.7 billion. Ethereum at the same time dropped by 1.16% to $725.8, its capitalization is $72.4 billion. The rate of Ripple fell by 2.5% overnight, to $0.78 with a capitalization of $30.6 billion. The total market capitalization of the cryptocurrencies reached 422.3 billion dollars.

Oil began the week with growth

Oil prices rose on Monday morning when recovering on Asian stock markets, as well as amid tensions in the Middle East.
Futures for the North Sea blend Brent climbed 0.79 percent to $65.35 a barrel.
Futures contracts for US light oil WTI by this time traded at $62.37 per barrel, which is 1.12 percent higher than the previous close.
Israeli Prime Minister Benjamin Netanyahu said on Sunday that Israel is ready to act not only against Iran's Middle Eastern allies, but also against Tehran, if it continues to actively intervene in the conflict in Syria.
Among the factors holding back the further rise of the market, analysts call the rapid growth of oil production in the US.
According to the calculations of the Energy Information Administration (EIA), weekly production of raw material in the US rose to a historic high of 10.27 million barrels per day for the week by February 9.
In addition, the number of installations for drilling oil wells in the US last week increased by 7 pieces to 798 - the highest value since April 2015, the data of the oil service company Baker Hughes showed on Friday.