Brent Crude Oil price rises again and Us stocks data analysis, Mar-08, 2022.

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Mar-08, 2022, US economical data and Brent crude oil daily analysis, by forex forum.​


Brent crude oil analysis

Global share markets slid lower on Tuesday as oil remained near record highs and the prospect of a U.S. ban on Russian oil imports stoked volatility and fears of stagflation.

Since Russia invaded Ukraine on Feb. 24, Western sanctions have cut Russia off from international trade and financial markets.​


Russia, which calls its actions in Ukraine a "special operation," warned that prices could surge to $300 a barrel and it might close the main gas pipeline to Germany if the West halts oil imports over the invasion of Ukraine.

International oil benchmark Brent crude , which briefly topped $139 a barrel in the previous session, was up 6.94% at $131.76 at 10:30 a.m. EST (1530 GMT).

U.S. crude was up 7.19%, at $127.98, while prices of safe-haven spot gold rose 2.83%, to $2,054.62 an ounce.

Source: reuters.com/markets

On the other hand, U.S. stocks resumed their slide on Tuesday while bond yields, oil and gold prices rose, a day after fears of oil inflation pushed the Dow Jones Industrial Average into a correction.​


The S&P 500 fell 8% and the blue-chip Dow Jones Industrial Average fell 0.5%, or about 160 points. The technology-heavy Nasdaq Composite, the first of the major indexes to fall into bear-market territory, fell another 1% on Tuesday morning.

Elsewhere, The Indian benchmark indices snapped a four-day losing streak to end higher in the volatile session on March 8, powered by gains in pharma and information technology names.

The market opened lower on weak global cues and remained volatile but buying in the final hour helped the indices close near the day's high.

The Sensex was up 581.34 points or 1.10 percent at 53,424.09, and the Nifty was up 150.30 points or 0.95 percent at 16,013.50.

"Domestic indices reversed their trend and traded with gains led by export-oriented sectors like pharma and IT, which witnessed buying interest as the rupee fell to its record lows," said Vinod Nair, Head of Research at Geojit Financial Services.

Exit polls favouring the ruling BJP in state elections and low-level buying in mid and small caps also added to optimism in the domestic market, he said.

Moreover, Brent crude, the international standard, rose 7.5% to $132.40, a day after briefly topping $139.​

Biden may announce the move as soon as Tuesday. The U.S. will be acting alone, but in close consultation with European allies, who are more dependent on Russian energy supplies. European nations have said they plan to reduce their reliance on Russia for their energy needs, but filling the void without crippling their economies will likely take some time.

A U.S. ban on Russian oil imports would be the latest move by governments and companies around the world to squeeze Russia's finances following its attack of Ukraine. All the penalties raise questions about how high prices will go for oil, natural gas, wheat and other commodities where the region is a major producer. That's in turn adding more pressure to the already high inflation sweeping the world, cranking up its hold on the global economy.

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