Oil prices jumped today as G7 nations have announced to strengthen sanctions against Russia. Brent crude futures rose 1.21%, and WTI crude futures were up 1,2%.
Stock indexes rose around the globe as China eased quarantine requirements. MSCI’s broadest index of Asia-Pacific outside Japan rose 0.5%, the Hang Seng index jumped 0.85%, and Japan’s Nikkei 225 rose 0.66%.
European shares are also up today due to gains in commodity-related stocks and automakers. The European-wide STOXX 600 is up 0.4%, CAC 40 edged 1.4% up, DAX futures 0.5% higher, and FTSE futures climbed 1.06%.
Wall Street slid after last week’s rally amid growing inflation fears. The Nasdaq Composite lost 0.72%, the Dow Jones slid 0.2%, and S&P 500 closed 0.3% lower.
The dollar index fell 0.058% with the euro climbing 0.23%.