Ukrainian crisis sends oil prices to unprecedented heights
As the Russia-Ukraine conflict is so far from being over and the West is about to ban all Russian oil imports, the markets can’t recover from the recent shock. The week starts with another increase of gas prices hitting the historic maximum: over $2,800 per 1,000 cubic meters. The European shares follow by falling deep in the red to their one-year low rates.
The humanitarian corridors opened for Ukrainian civilians by Russia might get the situation smoothed out. Still, the sanctions progress with the US Congress considering the exclusion of Russia from the World Trade Organization. Meanwhile, China's export growth slows down. The global inflation and consumption crisis are more than real so the forecasts are being pretty pessimistic for today.
See how the week begins for the main assets:
- BRENT OIL adds 6.80% and gets closer to it's all-time highs by reaching the 126.29 rate.
- GOLD rises relentlessly and adds 1.84% climbing to 2,002.85.
- USD INDEX recovers to 99.127 going 0.46% up.
- DOW JONES is traded 0.53% lower, descending to 33,614.80.
- NASDAQ loses 1.66% and lends at the 13,313.44 rate.
- DAX drops 3.12% and slides down to 12,685.93.
- FTSE 100 falls 1.59% lower traded at the 6,876.00 rate.
Current trends
The pressure over the markets is still intense which provides both bullish and bearish opportunities. See the trends recognized on March 7.
- Strong buy: DOW JONES
- Strong sell: BRENT OIL
- Buy: USD INDEX, NASDAQ
- Neutral: GOLD, DAX, FTSE 100
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