Oil prices fall despite output cuts, equities wobble
Oil prices reversed into the red Monday on global growth concerns, despite fresh output cuts by key producers Saudi Arabia and Russia aimed at propping up prices.
Although Asian stock markets advanced as easing inflation data fuelled hopes that central banks could be nearing the end of their interest rate hiking cycle, European stocks ended mostly lower.
Meanwhile, Wall Street stocks edged up to end a shortened trading session, with investor sentiment subdued on the eve of the Independence Day holiday in the United States.