Oil pushes towards $90 on Iran sanctions, Asia stocks slip as NAFTA lift fades

Asian stocks fell on Tuesday as the lift from an agreement that saved the North American free trade deal faded, with cautious views on the global economy curbing risk sentiment. In commodities, U.S. crude futures were up 0.4 percent at 75.60 dollars a barrel.

Crude contracts surged nearly three per cent to 75.77 dollars a barrel on Monday, their highest since November 2014, as the deal to salvage NAFTA stoked economic growth expectations, with impending U.S. sanctions on Iran seen raising prices.

Brent crude edged up 0.1 per cent to 85.07 dollars a barrel. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 per cent after a steady start.

Source: The Sun

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