The price of U.S. crude was up 1.8% to $117 a barrel Monday, but off its earlier high of $130 a barrel as talk escalated over the weekend about the U.S possibly barring imports of Russian oil.
A similar temporary cease-fire in two Ukrainian cities failed over the weekend — and both sides blamed each other. U.S. crude jumped $5.21 to $120.89 a barrel in electronic trading on the New York Mercantile Exchange. The all-time high was marked in July 2008, when the price per barrel of U.S. crude climbed to $145.29.
In early European trading, France’s CAC 40 fell 1.2% while Germany’s DAX lost 1.6%. Britain’s FTSE 100 lost 0.7%. “It should be clear by now that economic sanctions will not deter any aggression from the Russians, but will serve more as a punitive measure at the expense of implication on global economic growth. Elevated oil prices may pose a threat to firms’ margins and consumer spending outlook,” Yeap said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top Wall Street Analysts Says These Stocks Are Well Positioned for Long-Term GrowthTipRanks analyst ranking service pinpoints Wall Street’s best-performing stocks, like Apple and Airbnb. The ONLY people that buy Apple products are Weak-Minded people. You have to be to read news like this and still buy their products.... Interesting that they show Tim Cook. The primary guy aiding and abetting the Chinese dictatorship that is supporting Putins crimes against the human race.
Source: nbcchicago - 🏆 545. / 51 Read more »
Wall Street analysts pick their favorite solar stocks as global energy prices soarWall Street analysts name their favorite solar stocks, with shares on the rise, as traditional energy prices soar due to the Russia-Ukraine crisis. Scotty KILMER - Will get someone KILLED! via YouTube $Tsla Sun Run!
Source: CNBC - 🏆 12. / 72 Read more »
US stocks open lower, oil still high but off earlier peakNEW YORK (AP) — Stocks are opening lower on Wall Street but keeping their losses in check as an early spike in crude oil prices abated. The price of U.S. crude was up 1.8% to $117 a barrel Mo…
Source: denverpost - 🏆 13. / 72 Read more »
Stocks Making the Biggest Moves Premarket: Oil Stocks, Bed Bath & Beyond, Visa and MoreHere are the stocks making notable moves in premarket trading on Monday, March 7.
Source: nbcchicago - 🏆 545. / 51 Read more »
Stocks sink while oil soars after US and allies consider banning Russian oilStocks are tumbling Monday as oil prices are soaring to the highest level in 13 years, raising fears about a further spike in inflation that could damage the global economy. God bless Ethiopia, America and entire World!! Election fraud has consequences. War is measured only by results, wait for the beautiful endings!
Source: cnni - 🏆 326. / 59 Read more »