European markets are expected to open lower today 04/18/2016, after the major oil producers failed to reach an agreement in Doha on Sunday to freeze production at current levels.
UKX is expected to open 63 points lower priced 6281, the German DAX down 83 points at 9969 and the French CAC down 39 points at 4456, according to IG.
Doha failed after the leader of Saudi Arabia said they will freeze output levels while Iran does not do so. Iran, in turn, do not want a freeze on production from the beginning of speculations. They strive to reclaim the volume of oil exports and regain market share as before economic sanctions. Many oil analysts report an agreement already sounds impossible.
Asian markets traded mostly at negative territory, which is very likely to be transmitted to the European session. Uncertainty around oil prices remain in focus. It is very likely to see redirection of capital to safer assets.
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