by Chiara Rancati

06 September 2021European stock exchanges closed with a sharp rise. In Milan, Ftse Mib at + 0.76%; the best is Frankfurt, which is close to one percentage point increase thanks to better than expected data on German industrial orders.  

However, the volume of trading remains contained, as a result of the closure of Wall Street for Labor Day.  

While on the commodity markets, the drop is accentuated by the price of oil, which had recovered by mid-afternoon, returning to the levels of Friday's closing. Brent currently at 72.12 dollars a barrel, due to the effect of the cut in sales prices announced yesterday by Saudi Aramco, but also of the growing tensions due to the effect that the damage caused in Louisiana by Hurricane Ida could have on the American supply chain. 

Of particular concern is the news of a large spot of crude oil identified by the US authorities off the Port Fourchon oil hub, the origin of which has not yet been identified - probably an oil pipeline affected by bad weather.