After the setback from the previous day, prices on the German stock market stabilized in early trading on Thursday.

The falling oil price is having a supporting effect.

According to market expert Thomas Altmann from asset manager QC Partners, an initiative by the United States to release oil reserves is well received by investors.

As a result, the price of oil came under severe pressure on the commodity markets.

The North Sea oil Brent lost almost five percent to 107.89 dollars per barrel (159 liter barrel).

US oil WTI cost 6.7 percent less at a peak of $100.53 per barrel.

Opec online conference

The oil cartel OPEC plus is discussing its production strategy for May this Thursday.

To this end, the energy ministers of a total of 23 countries will come together for an online conference.

So far, the oil states have refused to expand oil production more than planned.

Despite the war in Ukraine, Russia and other oil states such as Saudi Arabia continue to work together in the merger.

The German share index Dax advanced by 0.6 percent to 14,694 points shortly after the start.

In the month of March, the leading German index shows a gain of 1.6 percent.

In the first quarter of the year, however, there is a loss of more than seven percent.

The M-Dax of medium-sized stocks rose on Thursday morning by 0.6 percent to 31,710 points.

The Eurozone leading index EuroStoxx 50 was up 0.3 percent at 3972 points.

Oil from the strategic reserve

The US is considering releasing around a million barrels of oil a day to cushion the rise in prices on the energy markets, reports Bloomberg, citing those informed.

"The US has had little success urging OPEC to increase production," commented analyst Stephen Innes of SPI Asset Management.

However, the Americans should only maintain this measure until there is a ceasefire in Ukraine.

Fresenius shares were at the top of the Dax on Thursday, rising by three percent.

The hospital operator and medical group wants to strengthen its subsidiary Kabi with two acquisitions.

Sartorius shares rose in price by two percent, driven by a new buy recommendation from the investment bank Morgan Stanley.

In the M-Dax, Varta's shares were in first place with a gain of 5.6 percent.

The battery company earned more than expected in the second Corona year 2021, despite a cut sales forecast.

With an increase of 1.8 percent, Wacker Chemie benefited from a buy recommendation from the investment house Oddo-BHF.