Login

February 24, 2022

Ukraine crisis: Oil hits $100, markets tumble

February 24, 2022

Ukraine
Content:

Ukraine crisis: Oil hits $100, markets tumble  

 Oil prices rose above $100 a barrel on February 24, the highest level in more than seven years, as fears of a possible Russian invasion of Ukraine continues to rock the financial markets.

Ukraine

Gold prices and the Japanese yen, traditional “safe havens” during global unrest, also climbed. 

Oil prices rose above $100 a barrel and global stock markets tumbled after reports of widespread military action by Russia against Ukraine, heightening fears of a major war in Europe. 

Brent crude futures are trading at $100.01 (+8.59%) while WTI crude is trading at $105.29 (+8.73%) a barrel. 

Supply concerns and pending sanctions against Russia have sent oil climbing. 

Take advantage of the oil price today! 

The gold price is soaring at $1,968 extending its break towards $1,980. The precious metal has become increasingly popular as a safer alternative as things escalate in eastern Europe. 

Tensions about an imminent attack by Russia on Ukraine have rattled the financial markets. The concern is that a possible Russian invasion will trigger further US and European sanctions, disrupting exports from the one of the world’s top producers in a market already beset by supply issues. 

How to become an online trader in 2022 

 

Stock market jitters  

The Dow Jones Industrial Average fell 464.85 points (-1.38%) to 33,131.76, the S&P 500 lost 79.26 points (-1.84%) to 4,225.5 and the Nasdaq Composite dropped 344.03 points (-2.57%) to 13,037.49. 

The US dollar however strengthened sharply and was last up 3.2% against the Russian rouble. Authorities in Russia have suspended all trading on Moscow exchanges; the Russian rouble fell 9% on currency exchanges. 

 

Trade the easy way           

Join CMTrading, the largest and best-performing broker in Africa, and discover more opportunities with an award-winning broker. Register here to get started            

Follow CMTrading on Facebook, Instagram, LinkedIn, Twitter, Telegram and YouTube.      

 

 

Ready to start Online Trading? Open an account today        

Join CMTrading, the largest and best-performing broker in Africa, and discover more opportunities with an award-winning broker. Register here to get started            

Follow us on Facebook, Instagram, LinkedIn, Twitter, and YouTube 

Disclaimer
Trading involves a significant risk of loss and is not suitable for all investors. It’s important to understand the risks and seek advice from an independent financial advisor if necessary.

The information provided here does not constitute investment advice.

Facebook
Twitter
LinkedIn
WhatsApp
Email

Content:

Follow us on:

Start Trading Now!

Recent Posts

Trading Signals
Exploring Trading Signals: Can They Help You Trade Better?

Trading is a complicated and often unpredictable activity, whether in stocks, currency, or cryptocurrencies. To achieve success, you need a strong combination of market expertise, analytical abilities, methodical risk management, and—most importantly—quick decision-making. Trading signals

Read More »
We currently do not accept customers from your region