An important meeting today on sanctions against Russian oil and positive trading in American and Asian stocks Today,
leaders and representatives of many countries are preparing to attend the NATO meeting and the European Union summit where US President Joe Biden
will join to discuss new sanctions, especially in the oil sector

Evest follows market developments in the following report

content:

Oil rises at $110 per barrel

Positive dealings in Wall Street

Asian stocks rebound

Oil rises at $110 per barrel

Oil prices rose today, on Wednesday after a moderate decline in the previous session, and investors assess unexpected data on the reduction of stocks of this fuel in the United States at the end of last week

The price of Brent crude futures on the London Stock Exchange was $116.7 per barrel on Wednesday, $1.12 (1.06%) higher than the closing price of the previous session.

As a result of Tuesday’s trading, these futures declined by $0.14 (0.1%) to $115.48 per barrel

The price of West Texas Intermediate oil futures for May in electronic trading on the New York Mercantile Exchange (NYMEX) was $110.38 per barrel by this time, $1.11 (1.02%) higher than the final value of the previous session.

The day before, these futures fell by $0.7 (0.6%) to $109.27 per barrel

The American Petroleum Institute (API) data, released at night, showed a decline in U.S. oil stocks last week by 4.3 million barrels,
although analysts expected them to grow on average

On Wednesday, the US Department of Energy will release official information on reserves.

Analysts predicted that the DOE report would indicate an increase in inventories by 110 thousand barrels

Participants in the oil market continue to focus on the situation in Ukraine and sanctions against Russia, including Europe’s possible rejection of Russian oil

According to analysts, Thursday’s meeting of NATO heads of State “could lead to tougher action against Moscow, which could confirm the expected risks of Russian oil supplies

According to experts, the complete abandonment by the European Union of oil from Russian ports and through pipes could create a market deficit of more than 2 million barrels per day on market, which would boost prices by $ 120 per barrel in the Middle East in the short term

Positive dealings in Wall Street

The Dow Jones industrial index rose on Tuesday, in an effort to recover from Monday’s stock market downturn triggered by Fed Chairman Jerome Powell’s comment about inflation being “Too high Treasury yields extended their gains, while US oil prices temporarily stalled after Monday’s rise

After Tuesday’s opening, Nike’s stock jumped by more than 5% after reporting a lower-than-expected fall in third-quarter financial profits

Among other Dow Jones stocks, Apple fell by 0.2% while Microsoft fell by 0.1% in the stock market today United Health, a Dow Jones stock to monitor, ended Monday in a buy-out range

Chinese retailer Ali Baba advanced 10 percent on Tuesday following its $25 billion stock buyback program.

Electric vehicle leader Tesla surged by about 1% early Tuesday, as a move to extend Monday’s gains

Dow Jones Industrial Index rose by 0.7% and Standard&Poor’s 500 Index rose by 0.65%. The Nasdaq index rose by 0.8% in morning trading

The 10-year US Treasury yield extended its gains on Tuesday, reaching 2.34%.

With Monday’s rise to 2.31% the yield remained at its highest point since May 2019

Bond and stock yields rose a day after US Federal Reserve Chairman Jerome Powell announced
that the central bank was ready to move harder to raise interest rates in its fight against inflation if necessary

In statements prepared for the National Association of Business Economics,
Fed Chairman Powell said that “inflation is very high” and that the Fed will take “the necessary steps to ensure a return to price stability.

” Options include steeper increases of 50 basis points

Asian stocks rebound

Asian stocks rose on Wednesday, following a rebound on Wall Street led by tech companies,
despite continued investor concern over Ukraine’s war and inflation

Standards were higher across the Asian region, despite concerns about high energy costs.

The dollar rose against the Japanese yen

Investors were also watching closely what would happen with President Joe Biden joining NATO and the European Union summit on Thursday in Europe,
where sanctions and the Russian oil embargo are likely to top the agenda

Ukrainian President Volodymyr Zelensky was scheduled to deliver a long-awaited speech online in the Japanese parliament.

Japan, which adhered to a pacifist constitution after its defeat in World War II, took an unusually open stance on the war in Ukraine by joining sanctions against Russia along with Western countries

Japan’s Nikkei 225 index rose by 3.0% in afternoon transactions to 28.040.16.

The Australian S & P/ASX 200 index rose by 0.5% to 7377.90. South Korea’s Kospi Index rose by 0.8% to 2732.51.

Hong Kong’s Hang Seng index jumped by 1.7% to 22253.04, while the Shanghai Composite Index rose by 0.3% to 3271.17

Stocks of China’s ZTE Corp network equipment rose by about 27% after the company said that an American judge allowed a probationary period to expire after the company was nearly destroyed in a clash with Washington over its dealings with Iran and North Korea

An important meeting today on sanctions against Russian oil

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