Oil Surges Close To $100 As West Prepares Sanctions Against Russia
NDTV
Russia-Ukraine Crisis: After heavy falls at the open, European stocks edged into positive territory as the Kremlin said it remained open to all diplomatic contact over Ukraine.
Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine, sparking Western nations to ready economic sanctions against Moscow.
After heavy falls at the open, European stocks edged into positive territory as the Kremlin said it remained open to all diplomatic contact over Ukraine.
"The old adage goes that the market hates uncertainty and while that has clearly been evident at times over the last couple of weeks, there's no doubt that investors continue to be tempted back in at the slightest hint of diplomacy winning the day," said market analyst Craig Erlam at Oanda trading platform.
On Wall Street, the three main indices opened lower after a three-day holiday weekend, with the Dow shedding 0.6 percent.
