Stocks in Asia set to drop as oil prices plunge amid price war fears; energy stocks plummet [CNBC]
WOODSIDE PETROL LTD S/ADR (WOPEY)
NASDAQ:AMEX Investor Relations:
woodside.com.au/investors-media/announcements/pages/announcements-currentyear.aspx
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Source: CNBC
Stocks in Asia were set to see steep declines at the open on Monday as oil prices plunged amid fears of a price war after OPEC failed to strike a deal with its allies on production cuts, adding to market volatility already brought about by concerns surrounding the ongoing coronavirus spread. Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 19,600 while its counterpart in Osaka was at 20,320. That compared against the Nikkei 225's last close at 20,749.75. Meanwhile, stocks in Australia tanked in early trade, with the S&P/ASX 200 down about 4%. The energy subindex plummeted 18.65% as shares of oil companies dropped. Santos was down 26.87%, Woodside Petroleum fell 22.1% and Beach Energy fell 20.61%. Investors will focus on movements in oil prices on Monday. As of 11:15 p.m. GMT Sunday, the international benchmark Brent crude futures contract fell 19.35% at $36.51 per barrel after earlier tumbling 30%. U.S. crude futures also fell sharply
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