Direct War Ukraine - Russia, breaking news
Russia's invasion of Ukraine continues to set the pace for markets amid concerns about Moscow's next steps and the response from Western countries.
The
stock markets
have woken up containing the losses of previous sessions, however, it is
oil
that reflects this Wednesday the uncertainty in the face of a global supply crisis.
The barrel of
Brent
, a reference in Europe, has shot up again in the early hours of the morning to exceed 113 dollars, a level that has not been marked since June 2014, after the
International Energy
Agency (IEA) warn of the risk to global energy security posed by the invasion.
The price exceeds by 7.6% the 104.97
greenbacks
that marked the barrel at the close of Tuesday, while the barrel of
Texas
oil , a benchmark in the US, has climbed this morning to 110.83 dollars against the 103.41 the day before.
So far this year, as reported by
Efe
, the price of a barrel of Brent accumulates a rise of 43%, while that of WTI has revalued by 48%.
The Governing Council of the International Energy Agency (IEA), made up of its 31 member countries,
agreed yesterday to release 60 million barrels of oil from emergency reserves
to deal with rising crude oil prices.
"The situation in the energy markets is very serious and demands our full attention. Global energy security is under threat, putting the world economy at risk during a fragile stage of recovery," warned IEA Executive Director Fatih Birol. .
Currently, IEA members accumulate 1.5 billion barrels of crude oil in emergency reserves.
This initial release equates to 4% of them, or a release of two million barrels per day over the next month.
Closed stock exchange in Moscow
Meanwhile, equities continue to adjust for the falls of recent sessions.
The
Ibex 35
has opened this Wednesday with a slight rise of 0.3% after the fall of 3.43% that it registered the day before.
Its advance today contrasts with the setbacks of -0.3% in the Dax in Frankfurt or the Cac 40 in Paris, and with the even greater fall in the Ftse Mib in Milan, which leaves more than 1% at the start of the session.
In the Spanish selective,
Sabadell
(-2.69%),
Caixabank
(-2.49%),
Bankinter
(-1.53%),
Santander
(-1.4%),
BBVA
(-1.06%) and
Mapfre
(-0.91%) recorded the biggest drops, while on the opposite side were Grifols (+1.44%),
Acerinox
(+1.31%),
ArcelorMittal
(+1.23%) and Endesa (+1.21%).
The day's agenda is marked by the meeting of the EU Economy and Finance Ministers, who will hold an extraordinary meeting by videoconference in which they will address the impact of the Russian military advance in Ukraine for European economies and their companies, as well as the sanctions launched by the EU.
Meanwhile, in Moscow,
the Russian stock market remains closed for the third consecutive day due
to fears of a collapse of the main values due to the consequences of the sanctions imposed by the West.
"The Bank of Russia decided not to resume trading on March 2, 2022 on the Moscow Stock Exchange in the stock market section" with some exceptions, the Moscow regulator said in a statement.
The Moscow Stock Exchange has been closed since February 28, when Russia woke up knowing that the European Union, the US, Canada and other partners would exclude some Russian banks from the SWIFT international interbank communication system, an unprecedented blow to isolate the country of the global financial system.
The ruble then plunged in the Forex market by almost 30% against the dollar and the euro, a drop not seen since at least 1993 and 1994, respectively.
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