Russia warns oil could rise to $300

Russia warns oil could rise to $300
  • The strengthening of the dollar has currently stopped.
  • Futures for all three major US stock indices fell.
  • Brent is currently uploading.
  • Gold prices are currently extending gains.

Top Daily News

forex news

currency pairChange

The strengthening of the dollar has now stopped. Real-time dollar index data shows the ICE US dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.7% on Monday.

Both EUR/USD and GBP/USD continued to fall on Monday, as Sentix reported a sharp deterioration in Eurozone investor sentiment. The euro is little changed against the dollar currently, while the pound is down. USD/JPY reversed its slide yesterday, while AUD/USD reversed the rally with the yen and Australian dollar lower against the greenback today.

Stock Market News

dow jones-0.57%
Hang Seng-1.4%
Australian stock index-1.1%

Futures on all three major US stock indices were lower, with the benchmark 10-year Treasury yield rising 1,801% compared to a US close of 1,749% on Monday. The US stock market closed solidly lower yesterday and travel stocks remain the loss leader. All three major US stock index benchmarks posted daily losses in the range of 2.4% to 3.6% on Monday, with the Nasdaq ending down 20.1% from its record-low close. November 19, confirming that it was in a bear market.

European stock indices are currently falling after closing sharply lower yesterday led by banking and auto stocks. Asian indices are pulling back today with major losses from the Shanghai Composite.

Commodity Market News

Raw MaterialsChange
Brent oil+0.25%
WTI oil+0.35%

Brent is currently uploading. Russian Deputy Prime Minister Alexander Novak said yesterday that oil prices could exceed $300 a barrel if the United States and its European allies ban imports of Russian oil. President Biden held a video conference with the leaders of France, Germany and Great Britain seeking his support for the ban. Novak said that Russia may retaliate against the European Union and “impose an embargo on the pumping of gas through the Nord Stream 1 pipeline.” Russia currently supplies 40% of Europe’s gas. European Union leaders will agree at a summit on Thursday and Friday to phase out the EU’s dependence on Russian gas, oil and coal imports, according to a draft declaration. US West Texas Intermediate WTI rose 3, 2% and is currently higher. Brent gained 4.3% to $100.99 a barrel on Monday.

Gold Market News


Gold prices are currently extending gains. Spot gold rose 1.33% to settle at $1,997.10 an ounce on Monday, the highest in a decade.