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Oil soars and stocks slide as Ukraine war intensifies

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Conflict is fuelling a dash for commodities that could be in short supply, while equities fall victim to inflation and growth fears

London — Oil prices soared again on Thursday as the Ukraine war triggered a dash for commodities that could be in short supply, while stock markets slipped as investors worried about higher inflation and slowing economic growth.

The MSCI added to Russia’s financial isolation by deciding to shut the country out of its emerging markets index, while FTSE Russell said Russia would be removed from all its indices. The Euro Stoxx was down 0.45% while the FTSE 100 weakened 0.47%. Wall Street futures pointed to a slightly weaker open.

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Oil soars to highest since 2008 as Russia invasion upends marketBuyers are continuing to avoid Russian crude oil as they try to navigate financial sanctions on Russia, and traders are betting prices will keep rising. Ukraine commodities
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