Spreadex Market Update
Investors pause for thought over incident in Iraq
Risk assets continue to cool this morning, as the FTSE 100 and Xetra Dax trade off by more than 0.2 percent. Investors are once again pausing for thought against current valuations, taking on board re-ratings to growth from the World Bank and geopolitical concerns developing from the situation in Iraq.
Trading in oil futures has been heightened over the past few sessions in light of growing conflict in Iraq. Prices in Brent crude and light crude contracts are currently breaching recent highs. Brent crude is currently selling on the open market for almost $114 a barrel against August delivery. And the price pressure is unlikely to give up so long as the conflict continues and uncertainty prevails.
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