Commodities Power Tehran Stocks

The symbol tickers of commodity stocks started trading day on Monday mainly in green as investors reacted to the steep rise in crude oil prices in international markets.

Financial Tribune- After a brief correction phase, stocks resumed a rally on Monday with the main index of Tehran Stock Exchange gaining 3,500 points, or 1.16%.
The index was boosted mainly by rising demand for refinery stocks as investors cheered by the soaring crude prices – something unseen since 1991.
Oil prices jumped Monday after drone attacks over the weekend on oil production facilities in Saudi Arabia fueled worries over the impact of an oil shock on global economic growth, according to a Reuters report.
The attacks sent Brent crude futures nearly 20% higher at one point in their biggest intra-day gain since the Persian Gulf War in 1991, and US futures shot up almost 16%, both hitting their highest level since May.

Sep 17, 2019