European shares followed Asian stocks higher on Monday, adding to gains chalked up after last week's stimulus package from the European Central Bank, while oil prices fell as Iran dashed prospects of a quick deal to freeze output.
Two Chinese firms are pushing for multi-billion dollar deals with Iran to build a high-speed railway and modernize its shipping fleet following the lifting of most sanctions against Tehran, sources with knowledge of the negotiations said.
Crude oil prices are starting the U.S. trading session in positive territory after giving up some ground yesterday. Since the announcement of the potential production freezing deal oil prices are starting to stabilize with the week to date level just slightly below last week’s closing level as of this writing.
It's the day after oil ministers from Saudi Arabia, Russia, Venezuela and Qatar agreed to freeze production, and--assuming they could get other countries to agree--it is now onto Iran to try and seal the deal.