Global shares decline as oil prices surge above $100
after close1 source ↓written by the desknot a recommendation
- following attacks
- 9% to $100.22 per barrel
- crude futures reached
- $95.41 per barrel
- from reserves
- 400 million barrels
Global shares fell sharply on Thursday, with MSCI’s Asia-Pacific index down 1.6% amid rising oil prices. Oil surged 9% to $100.22 per barrel following attacks on Gulf shipping and terminal closures, raising inflation concerns.
• U.S. crude futures reached $95.41 per barrel
• Investors reacted negatively despite the IEA's plan to release 400 million barrels from reserves.
The surge in oil prices may lead to increased borrowing costs globally.
Not investment advice. For informational purposes only.