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Saudi Arabia warned that the Yemeni rebels’ attacks on its oil industry over the weekend posed a “direct threat” to global oil supplies. For their part, the Baltic states called for a ban on imports of Russian crude oil to punish Russia for invading Ukraine.
“We saw what happened when the US first came up with the idea of an EU ban [jēlnaftas] import [no Krievijas] (..) and if this idea becomes realistic, it could raise oil prices much more, “said Craig Erlam, an analyst at OANDA.
Stock prices on Wall Street fell after Jerome Powell, head of the US Federal Reserve’s (FRS), said the FRS was ready to raise interest rates faster if needed to curb “too high” inflation.
European stock prices fell mostly after Ukraine rejected Russia’s ultimatum to surrender the besieged city of Mariupol.
The Dow Jones Industrial Average fell 0.6% to 34,552.99 on Monday, the Standard & Poor’s 500 fell less than 0.1% to 4,461.18, and theNasdaq Composite “decreased by 0.4% to 13,838.46 points.
The London Stock Exchange index FTSE 100 rose 0.5% to 7442.39 points on Monday, the Frankfurt stock exchange index DAX 30 fell 0.6% to 14,326.97 points, and the Paris stock exchange index CAC 40 fell 0.6% to 6582 .33 points.
In the New York Stock Exchange, the price of WTI crude oil rose 7.1% to $ 112.12 a barrel on Monday. The price of Brent crude on the London Stock Exchange rose 7.1% to $ 115.62 a barrel.
Euro against the US dollar fell from $ 1.1051 to $ 1.1013 on the euro on Monday, the pound sterling fell from $ 1.3181 to $ 1.3156 per pound, 119.47 yen per dollar. The euro fell against the pound sterling from 83.81 to 83.67 pence per euro.
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