fbpx
Cyber-wellness Means Cyber-awareRead more Addressing maternal mental healthcare in AfricaRead more Qatar v. Ecuador to kick off FIFA World Cup 2022™ on 20 NovemberRead more Webb Fontaine Announces Launch of Niger National Single Window (NNSW) to Bolster TradeRead more Ethiopia: Loan from United Nations Fund Allows Food and Agriculture Organization (FAO) to Scale Up Fertilizers for Farmers in TigrayRead more How Choosing the Right Printer Helps Small Businesses and Content Creators to Save Time, Maximise Productivity and Achieve GrowthRead more The United States Contributes USD $223 Million to Help World Food Programme (WFP) Save Lives and Stave Off Severe Hunger in South SudanRead more Eritrea: World Breastfeeding WeekRead more Eritrean community festival in Scandinavian countriesRead more IOM: Uptick in Migrants Heading Home as World Rebounds from COVID-19Read more

US stocks close lower with ban on Russian oil imports

show caption
MOSCOW, RUSSIA - MARCH 08: A view from a Shell gas station in Moscow, Russia on March 08, 2022. Shell is set to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance, the company announced on Tuesday. As an immediate first step, the company will stop all spot purchases of Russian crude oil, it said, adding that it will also shut its service stations, aviation fuels and lubricants operations in Russia. ( Pavel Pavlov - Anadolu Agency )
Print Friendly and PDF

Mar 09, 2022 - 07:32 AM

ANKARA (AA) – US stocks ended lower Tuesday as the Biden administration announced a ban on energy imports from Russia.

President Joe Biden earlier signed an executive order banning all imports of Russian oil, liquefied natural gas and coal to the US.

Investors are worried that the ban on crude imports from Russia, one of the world’s three largest oil suppliers, will put upward pressure on oil prices.

In addition, amid the risks of Russia’s war on Ukraine, crude oil prices continue to climb.

Global benchmark Brent crude was trading at $128.82 a barrel, up 2.5%, while US benchmark West Texas Intermediate (WTI) crude was at $124.6 a barrel, up 4.4%.

The Dow Jones Industrial Average fell 184 points, or 0.56%, to 32,632. The S&P 500 was down 30 points, or 0.72%, at 4,170.

The Nasdaq declined 35 points, or 0.28%, to 12,795.

The VIX volatility index, known as the fear index, fell 3.6% to 35.13. The dollar index lost 0.22% to 98.07.

The yield on 10-year US Treasury notes, on the other hand, rose 5.5% to 1.846%.

Precious metals continued to increase, with gold adding 2.7% to $2,051 per ounce and silver rising 2.8% to $26.4 an ounce.

  • bio
  • twitter
  • facebook
  • latest posts

MAORANDCITIES.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.