By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: Oil Breaks $100
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Stocks > Middle East > Oil Breaks $100
Headline News

Oil Breaks $100

Shayne Heffernan Ph.D.
Last updated: February 24, 2022 3:37 am
Shayne Heffernan Ph.D.
Share
5 Min Read
SHARE

Oil prices broke past $100 and safe havens surged while equities tumbled Thursday after Russian President Vladimir Putin announced a “military operation” in Ukraine, accelerating fears of a major war.

Markets have been hammered this week after the Kremlin recognised two breakaway regions in eastern Ukraine and said it would provide “peacekeepers” to the regions, leading to warnings of a conflagration.

The Russian president said in a surprise statement on television: “I have made the decision of a military operation.”

He also vowed retaliation against anyone who interfered and called on the Ukraine military to lay down its arms.

There were later reports of explosions in Kyiv as well as the eastern Ukrainian front.

Russia is said to have up to 200,000 soldiers massed on the border with Ukraine, and Washington has warned for weeks that Putin was planning an incursion.

Oil prices rocketed with Brent moving within spitting distance of the $100 not seen since September 2014, while gold and the Japanese yen — safe havens in times of crisis and turmoil — also jumped.

The dollar was up more than six percent against the ruble, which has been battered in recent weeks on worries about the impact of sanctions on the Russian economy.

On equity markets, Hong Kong, Sydney, Mumbai and Seoul all fell more than three percent while Tokyo, Singapore, Taipei and Wellington dropped more than two percent. There were also big losses in Shanghai, Manila, Jakarta and Bangkok.

World leaders had been trying to work for a de-escalation but failed, while Ukrainian President Volodymyr Zelensky said he had tried to call Putin but there was “no answer, only silence”.

He added that Russia could start “a major war in Europe” in the coming days.

US President Joe Biden deplored the Russian operation as an “unprovoked and unjustified” attack, adding that it would cause “catastrophic loss of life and human suffering”.

Earlier, the United Nations was told a full-scale Russian invasion would have a devastating global impact that would likely spark a new “refugee crisis”.

The threat of a conflagration has sent markets spiralling, with traders fretting over supplies of key commodities including wheat and metals.

“Russia/Ukraine tensions bring both a possible demand shock (for Europe), and more importantly a much larger supply shock for the rest of the world given the importance of Russia and Ukraine to energy, hard commodities and soft commodities,” said National Australia Bank’s Tapas Strickland.

The crisis comes as governments struggle to contain runaway inflation fuelled by demand as life returns after recent Covid-19 lockdowns, with many fearing the fragile global economic recovery from the pandemic could be knocked off course.

After staging a slight bounce Wednesday in reaction to what were considered light sanctions against Moscow, Asian markets were back in the red after a hefty drop on Wall Street.

– ‘Policy mistakes’ –

The stand-off in Europe has provided central banks with a further headache as they move to lift pandemic-era financial support and tighten monetary policy.

Attention is on every utterance from Federal Reserve officials as they prepare to hike interest rates next month, with speculation over how fast and hard it will move.

Commentators said bets are on six increases this year, down from previous forecasts for up to seven, and they said the stakes are rising further.

“Policy mistakes at this point in time are almost guaranteed,” Shana Sissel of Banrion Capital Management told Bloomberg Television.

“The question isn’t, ‘Is there going to be a policy mistake?’, but, ‘How bad will it be? Will the Fed hike too much too fast, will they front-load everything?'”

And with uncertainty reigning supreme, warnings abound of worse to come, with BNY Mellon Investment Management’s Lale Akoner saying: “Expect volatility to really persist in the next few months.”

Geopolitical risks were flaring at a “very inopportune time”, she added, as traders try to navigate central bank tightening.

You Might Also Like

WW3 Will Trump Attack Iran as a Show of Strength to Russia and China? $QQQ $SPY $BTC

Buy the War Stocks $LMT $GD $NOC $RTX $BA

$BABA, $BIDU, $JD, $NIO, and Other Chinese Stocks are Bargains

Tokenization of the Entire Financial Sector Is Inevitable

Knightsbridge: Pioneering a Corporate Currency Revolution

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Shayne Heffernan Ph.D.
Follow:
Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
Previous Article Fendi Leads the Return of Milan Fashion Week
Next Article NFT Hackathon for Artists and Developers


Latest News

Specific Parts of the Donald Trump Bill Upsetting Elon Musk
Headline News Opinion Politics Shayne Heffernan Shayne Heffernan Stocks June 7, 2025
Still a Strong Buy $BABA
Alibaba Group Holding Ltd (NYSE:BABA) America China Headline News Most Popular Opinion Politics Shayne Heffernan Tech today June 4, 2025
Top U.S.-Listed Bitcoin Companies $BMNR $MARA $RIOT $CIFR $CORZ $COIN
Bitcoin Headline News Must Read Opinion Shayne Heffernan Shayne Heffernan Stocks June 4, 2025
Saudi Red Sea: A Rising Star in Luxury Tourism
Featured Headline News Lifestyles of the RIch and Famous Living Luxury Real Estate Top Stories Travel June 4, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?