Take a fresh look at your lifestyle.

Crude rallies, rouble plunges to record low as Ukraine risks rise

Investing.com - Financial Markets Worldwide

Please try another search

Stock Markets24 minutes ago (Feb 27, 2022 09:01PM ET)

2/2

Crude rallies, rouble plunges to record low as Ukraine risks rise © Reuters. FILE PHOTO: Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019. REUTERS/Antonio Bronic

2/2

By Kevin Buckland

TOKYO (Reuters) – jumped while the rouble plunged nearly 30% to a fresh record low on Monday after Western nations imposed new sanctions on Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system.

Haven demand boosted bond yields along with the dollar and yen while the euro sank after Russian President Vladimir Putin put nuclear-armed forces on high alert on Sunday, the fourth day of the biggest assault on a European state since World War Two.

The ramp-up in tensions heightened fears that oil supplies from the world’s second-largest producer could be disrupted, sending futures up $4.21 or 4.3% at $102.14. U.S. West Texas Intermediate (WTI) crude futures were up $4.58 or 5.0% at $96.17 a barrel.

U.S. and European stock futures sank, but Asia-Pacific stocks were mostly higher in volatile trading, buoyed by Wall Street gains from Friday, when the closed up 2.51%, said Kyle Rodda, a market analyst at IG Australia.

“We had a deluge of very negative information over the weekend,” Rodda said. “My sense is there’s not going to be much staying power behind this particular move (in Asia-Pacific stocks), considering we’re talking about financial stability risks, and sprinkle over that the threat of nuclear war.”

“Volatility is heightened,” he said. “Price action is incredibly choppy.”

U.S. emini stock futures were pointing to a 1.57% drop at the restart, while pan-European futures lost 2.83%.

225 rose 0.48%, recovering from an earlier loss. Australia’s benchmark added 0.64% after also being down at one point. Chinese blue chips, though, slipped 0.21%.

MSCI’s index of regional stocks eked out a 0.09% gain.

Meanwhile, the fell about 6 basis point to 1.92%, and equivalent Australian yields also retreated about 6 basis points, to 2.18%.

The euro slid 0.9% to $1.1170 and 0.87% to 129.065 yen, while the risk-sensitive Australian and New Zealand dollars sank 0.66% and 0.76%, respectively.

The rouble tumbled 29.37% to a record-low 119 per dollar.

Related Articles

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More