MARKET WRAP: Surging crude prices dent JSE

The JSE closed weaker in line with European stock markets on Wednesday, driven by inflation concerns on the back of rising oil prices and the prospect of protracted war in Ukraine.

Brent crude extended Tuesday’s gains and was last trading at $107.57 a barrel, up 2.8%, after data showed Russian oil and gas condensate production has fallen to 10-million barrels a day in the wake of sanctions imposed after its invasion of Ukraine...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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