Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in New York: The draft resolution calls for the protection of civilians, respect for international law, and engaging in dialogue and negotiations.
Al Mayadeen's correspondent in New York: Russia, China, and Pakistan submitted a draft resolution to the Security Council calling for an immediate and unconditional ceasefire.
Israeli Channel 13: The Iranian nuclear program cannot be destroyed with missiles, even if we spend another year attacking it alongside the Americans.
Over 30 casualties in a suicide bombing that targeted the Mar Elias Church in Damascus, Syria.
Iranian Shura Council recommends the closure of the Hormuz Strait and leaves the decision up to the Iranian National Security Council.
IRGC Commander Major General Mohammad Pakpour: As time passes, the people's solidarity increases, which is a divine blessing
IRGC Commander Major General Mohammad Pakpour: The Iranian Revolution Guard Corps' aerospace operations will not stop
Russian Foreign Ministry: IAEA Director General Rafael Grossi must ensure that an objective report is presented at the special session of the International Atomic Energy Agency (IAEA)
Russian Foreign Ministry: The UN Security Council must respond to the US attacks on Iran
Russian Foreign Ministry: We strongly condemn the US strikes on Iran, calling the decision irresponsible

Oil prices surge above $100 a barrel

  • By Al Mayadeen Net
  • Source: Agencies
  • 1 Mar 2022 18:08
4 Min Read

Oil prices are surging past $100 again as Russia faces economic sanctions and isolation.

  • x
  • Oil prices surge above $100 a barrel
    Oil prices surge above $100 a barrel.

The Russian operation in Ukraine triggered soaring oil prices and investors to shift money into ultra-safe US government bonds. The oil prices surged above $100 a barrel after Russia faced economic damage and isolation. 

The rush into Treasuries pulled the 10-year Treasury yield back to 1.77%, where it had been since early February. On Wall Street, stock prices were mixed in the early going. In the opening few minutes of trade, the S&P 500 fluctuated between tiny gains and losses. The European stock markets were down.

US markets were threatened with decline on Thursday after Russian and Ukrainian talks were aimed at ending the conflict but only yielded an agreement to meet again. 

On Wall Street, both the S&P 500 and the Dow industrials slipped 0.7%. The major European indices all sank sharply, while Asian stocks mainly increased. Oil prices are continuing to rise, with benchmark crude in the United States surpassing $100 for the first time since the summer of 2014.

A five-hour session of discussions ended with an agreement to meet again in the coming days, while Ukrainian President Volodymyr Zelensky said the Russian operation intends to "push him to make concessions."

Russia is a significant energy provider, and rising oil prices, as well as increasing financial pressure from the United States and its allies on Russia for its operation in Ukraine, have added to global economic turmoil.

“While the ceasefire talks at the Belarus-Ukraine border ended, the military fires certainly have not ended by any means alongside sanctions being raised further,” Tan Boon Heng at Mizuho Bank in Singapore said in a commentary.

France’s CAC 40 lost 3% while Germany’s DAX shed 2.7%. Britain’s FTSE 100 fell 1.3%.

Related News

Israeli media: US-Israeli strike on Iran failed to end war

US aggression attacks Iran’s national unity, identity: Ex-president

Japan’s benchmark Nikkei 225 gained 1.2% to finish at 26,844.72. Australia’s S&P/ASX 200 surged 0.7% to 7,096.50. Hong Kong’s Hang Seng added 0.2% to 22,761.71, while the Shanghai Composite rose nearly 0.8% to 3,488.83. Markets were closed in South Korea for a holiday.

“The market’s focus will continue to be on geopolitical tensions, at least in the short term,” Anderson Alves of ActivTrades said in a report.

The Russian ruble hit a new low on Monday as Western countries decided to prevent some Russian banks from using a major global payment system. The US Treasury Department also imposed new penalties against Russia's central bank on Monday.

The ruble was trading at 97 to the dollar on Tuesday, up more than 10% from the previous day's low of 108.02 per dollar. After closing early on Monday, Russian markets remained closed on Tuesday.

Governors and lawmakers in a number of US states were taking steps to remove public pension and treasury assets out of investments in Russian-owned firms or Russian companies supporting the operation, in an effort to increase the financial pressure on Russia.

Due to the conflict, a number of corporations have announced plans to scale back or withdraw from enterprises in Russia, as well as cease activities in Ukraine.

Investors already were on edge before Russia’s operation in anticipation of the Federal Reserve’s plans to reach the highest interest rates for the first time since 2018 to counter inflation.

The Fed is walking a tightrope, needing to raise rates just enough to keep inflation in check but not enough to send the economy into a tailspin. Higher interest rates exert downward pressure on a variety of assets, including equities and cryptocurrencies.

The situation in Ukraine is fueling concerns that the Fed and other central banks may have to raise interest rates more gradually than previously anticipated.

Investors seeking safer yields have poured money into US government bonds. The 10-year Treasury yield decreased 0.15% points to 1.83% on Monday, the lowest level since the omicron coronavirus type first alarmed markets.

  • Oil prices
  • Ukraine
  • United States
  • Volodymyr Zelensky
  • Kiev
  • Kremlin
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • Today
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Iran UN Ambassador Amir Saeid Iravani addresses a United Nations Security Council meeting, Friday, June 20, 2025. (AP)
Politics

Iran demands urgent UN Security Council session over US airstrikes

CIA Director John Ratcliffe, testifies before a hearing April 18, 2023, on Capitol Hill in Washington (AP/Manuel Balce Ceneta)
US & Canada

Trump aides pushed war on Iran with Mossad-fed intel, ignoring dissent

This photo released on Nov. 5, 2019, by the Atomic Energy Organization of Iran shows centrifuge machines in the Natanz uranium enrichment facility in central Iran. (Atomic Energy Organization of Iran via AP, File)
Politics

Iran: Minor damage to nuclear sites after US attack, no radiation

The U.S. Capitol, on June 5, 2025, in Washington. (AP)
Politics

US lawmakers condemn Trump’s strikes on Iran; MAGA base frustrated

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS