Global markets decline as oil prices surge past $100
Asian shares fell broadly as oil prices surged over 9% past $100 a barrel due to Gulf shipping strikes. The MSCI Asia-Pacific index declined 1.5%, reflecting investor concerns over rising inflation and borrowing costs.
after close1 source ↓written by the desknot a recommendation
- a barrel following
- $100
- Asia-Pacific index dropped
- 1.5%
- the Nikkei
- 1.4%
- from reserves
- 400 million barrels
- from the US
- 172 million barrels
Shares in Asia fell broadly as oil prices surged 9% past $100 a 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 International Energy Agency'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.