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Business Standard brings you the top headlines on Monday

US stock index futures slid on Monday, with banks and travel stocks falling the most as the prospect of a ban on oil imports from Russia pushed Brent to over US$130 a barrel and added to concerns over spiraling inflation and slowing economic growth.

Global oil prices surged to the highest levels since the financial crisis Monday, with Brent crude briefly testing $140 per barrel, as world leaders extended talks on banning crude imports from Russia following last week''s invasion of Ukraine.

Oil prices soared above $130 a barrel in early trading on Monday, their highest since 2008, after the US said it is considering banning the import of Russian crude and is discussing such a move with its European allies, in a bid to freeze the world’s second largest energy exporter out of global markets and isolate Moscow economically for its invasion in Ukraine. Persecondnews.com gathered that Brent, the global benchmark for two thirds of the world’s oil, hit $139.13 a barrel and West Texas Intermediate (WTI), the gauge that tracks US crude, jumped to $130.50 in early trading. Both key benchmarks receded by 6.09am Nigerian time, but remained high, with Brent up 10.43 per cent at $130.4 per barrel and WTI 9.19 per cent higher at $126.3. Brent hit a record high of $147.02 on July 11, 2008 amid the global financial crisis, while WTI soared to $146.90. Oil prices could hit $180 a barrel and cause a global recession, according to Japan’s largest lender MUFG Bank. The post Oil prices skyrocket as US threatens ban on Russian crude appeared first on Per Second News .

LONDON, March 6 (Xinhua) — Another strong week for oil ended as Brent crude, a global benchmark, reached a fresh high. Analysts expect the uptrend to continue with the Ukraine crisis evolving, with the sting of rising prices impacting consumers worldwide amid higher inflation. SOARING PRICES Brent crude for May delivery increased 6.9 percent to […] The post Economic Watch: Oil prices expected to rise after new highs as Russia-Ukraine conflict rages on appeared first on BOL News .

As Brent crude prices rose 21% last week to close at their highest level since 2013, both traders on Dalal Street and policymakers were left worried. While any surge in crude has a negative impact on the Indian economy, it is also sparking interest in certain stocks. In today''s special podcast with independent market expert Rajiv Nagpal, we try to understand how good or bad the situation is for both traders and investors.

These top 10 Nigerian stories across the nation might interest you. 1. Amaechi decries slow pace of work on Kaduna-Kano, Port Harcourt-Maiduguri rail projects The Minister of Transportation, Rotimi Amaechi, on Saturday expressed concern over the slow pace of work at the Kaduna-Kano rail line handled by the China Civil Engineering Construction Corporation (CCECC). Read More 2. We’ll soon have to say goodbye to Nigeria as a nation if….—Obasanjo Former Nigerian president, Chief Olusegun Obasanjo, has grimly predicted the discontinued existence of Nigeria as a country due to the manipulation of the electoral process and the selfishness of its leadership. Read More 3. Abia PDP still consulting on 2023 governorship ticket – Ikpeazu The Abia State Governor, Okezie Ikpeazu, said on Friday the the Peoples Democratic Party (PDP) in the state was still in consultation with stakeholders over the party’s 2023 governorship ticket. Read More 4. Nnamdi Kanu sends message to supporters, says ‘dream republic near’ The embattled leader of proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu, has called on his supporters not to allow themselves to be distracted by “enemies who are against the struggle,” as their dream republic will soon emerge.

Crude traded within the widest ranges on record as WTI settles on the highest dollar gain ever in a week and Brent swings in its largest range since incept…

1. Asia to Remain Focus of Middle Eastern Producers as Europe Tightens Further- Despite IEA members agreeing to release 60 million barrels of oil in a coordinated effort to tame runaway prices, with the US releasing half of the total, Brent is up at $110 per barrel, an eight-year high. - The risk of Russian supply being kept away from markets has made backwardation so steep that now the difference between the first and second months of the Brent futures curve stands at around $5 per barrel. - Concurrently, the Brent-Dubai EFS spread, a key indicator…

The public buyers strike appeared to end on March 4 after Shell shipping and trading company lifted Trafigura''s Urals Baltic offer in the Platts Market on Close assessment process by S&P Global Commodity Insights at Dated Brent minus $28.50/b. As a result, NWE Urals was assessed a further $5.645/b lower on the day at a fresh record discount of $27.87/b…

Rising oil prices, global push and inexpensive valuation made the clean energy ETFs space lucrative lately.

Oil prices are on track to end their wildest week ever seen, with a massive $20 a barrel trading range in the past five days, as the Russian invasion of Ukraine sparked concerns about supply amid an exodus of buyers of Russian commodities. As of 9:56 a.m. ET on Friday, WTI Crude was up 5.25% at $113.45 and Brent Crude was trading up 4.48% at $115.54. Oil prices started this week in the low $100s for Brent and mid-$90s for WTI. The U.S. benchmark broke above $100 a barrel early this week and continued rallying. Early on Thursday, WTI Crude had jumped…

A rally that has driven oil prices to their highest in almost a decade shows no signs of abating, as supplies from top exporter Russia are disrupted by sanctions after its invasion of Ukraine, a Reuters poll showed on Friday. A survey of 35 economists and analysts forecast Brent crude would average

Following reports that Russian forces invaded Ukraine on Thursday, February 24, the front-month futures price of both Brent and West Texas Intermediate (WTI) crude oil have increased to more than $100 per barrel (b). The front-month Brent contract price closed just below $115/b on Wednesday, March 2, after rising and settling above $100/b on February 28. The Brent crude oil price last rose above $100/b in late 2014. The front-month WTI contract price closed above $110/b on March 2, after first settling above $100/b on March 1.

A rally that has driven oil prices to their highest in almost a decade shows no signs of abating, as supplies from top exporter Russia are disrupted by sanctions after its invasion of Ukraine, a Reuters poll showed on Friday. A survey of 35 economists and analysts forecast Brent crude would average around $91.15 a […]