Global markets decline as oil prices surge past $100
pre-market1 source ↓written by the desknot a recommendation
- surged
- 9.2%
- per barrel following
- $100.37
- dropped
- 1.5%
- 1.4%
- from reserves
- 400 million barrels
Shares in Asia fell broadly as Brent crude surged 9.2% to $100.37 per barrel following reports of strikes on Gulf shipping. The MSCI Asia-Pacific index dropped 1.5%, with the Nikkei down 1.4%. Investors remain cautious despite the IEA's plan to release 400 million barrels from reserves, including 172 million barrels from the US next week.
Not investment advice. For informational purposes only.