Oil hits $100 a barrel as Putin orders military operation in Ukraine

Oil prices have risen above $ 100, Asian stocks have plummeted and European stock futures have plummeted after Russian President Vladimir Putin ordered a “special military operation” in eastern Ukraine.

Hong Kong’s Hang Seng Index was down 2.6%, South Korea’s cosplay was down 2.8% and Japan’s Topix was down 1.7%.

Futures indicated heavy losses for European equities, with the Euro Stoxx 50 set to fall 3% in the opening, while the S&P 500 tends to fall a further 2% after Wednesday’s trading close in sharp declines. The FTSE 100 was expected to fall more than 2%.

In commodity markets, Brent Crude, the international index, rose 3.3 percent to more than $ 100 a barrel for the first time since 2014, fearing war could disrupt supply chains. West Texas Intermediate, the American marker, climbed more than 3% to $ 95.21.

“If this situation continues to deteriorate I would not be surprised to see Brent at $ 120 a barrel, and that’s really the point you would expect to see coordinated intervention [by global suppliers]”Said Robert Rani, head of global market strategy at Westpack.

Gold rose as investors piled up in shelters, sending the precious metal 1% higher than $ 1,927 an ounce.

Market movements in Asia came after Putin said he had ordered a Military operation In the Donbas region of Ukraine and demanded that the Kiev army lay down its arms.

“All responsibility for the possible bloodshed will be fully and utterly on the conscience of the ruling regime,” he said in a speech broadcast on Russian state television. Putin also warned other countries against “the temptation to intervene in ongoing events.”

The prelude to the war in Ukraine has troubled global markets, as the US has warned it could launch a full invasion. Kiev Declared a state of emergency On Wednesday and ordered its citizens to leave Russia immediately after the Kremlin said two backed in Moscow Separate territories In Ukraine, Putin was asked to “fend off the aggression of the Ukrainian regime.”

The White House said the request was an example of a type of “false flag” operation used by the Russian president to create the pretext for a major invasion. The Pentagon has warned that Moscow has deployed 100 percent of the forces needed for the attack.

Russian stocks have Dived In response to the crisis. On Monday, the Moex index fell 14.2 percent, closing the main trading round with the biggest one-day drop since Russia took over Crimea in 2014. The index has fallen more than 18 percent this year.

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Oil hits $100 a barrel as Putin orders military operation in Ukraine Source link Oil hits $100 a barrel as Putin orders military operation in Ukraine

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