-
Oil prices surged at the beginning of a new week with Brent reaching the highest level since 2008. Brent briefly traded above $130 per barrel while WTI above $125
-
Price surge was triggered by news saying that the United States will take a serious look at banning Russian oil imports. Japan is mulling similar move
-
On the other hand, news surfaced saying that the United States is also engaging in talks with Venezuela about lifting oil sanctions. Biden will also travel to Saudi Arabia to talk about increasing oil output
-
Iranian nuclear talks are delayed by Russia making demands over sanctioned entities
-
European and US index futures trade lower at the beginning of a new week
-
Indices from the Asia-Pacific region plunged today. Nikkei dropped almost 3%, S&P/ASX 200 moved 1% lower and Kospi dropped 2.3%. Indices from China traded 2.5-3.5% lower
-
Russia failed to capture any significant Ukrainian cities over the weekend and Western intelligence says that progress is marooned by logistics failures, low morale and strong Ukrainian resistance
-
Russia continues to target residential areas and civilians. Attempts to open humanitarian corridors over the weekend failed as Russia violated ceasefire agreements
-
South Korea joined western sanctions and banned transactions with the Russian central bank. Number of companies also announced halting services in Russia over the weekend, including payment companies Mastercard, Visa, PayPal and American Express
-
Russia passed a law allowing to impose up to 15 years of jail time to those who spread news on Ukraine from sources other than official. Russia also decided to ban many social media in the country, like Facebook or Twitter
-
Chinese exports jumped 16.3% YoY in February (exp. 15.0% YoY) while imports were 15.5% higher (exp. 16.5% YoY). Trade balance reached $115.95 billion (exp. $99.5 billion)
-
Precious metals trade higher with palladium surging 5%
-
AUD and NZD are the best performing major currencies while CHF and EUR lag the most
Possibility of imposing sanctions on Russia is pushing oil prices higher. Brent reached the highest level since 2008 at the start of today's trading and, in the current fundamental setup, an attack on oil time highs in the not so distant future cannot be ruled out. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
