The US market has not yet left the conflict between Russia and Ukraine behind, although these days other events had a greater impact, including the The Federal Reserve has as a goal to accelerate the sale of bonds by 95,000 million dollars a month.
In this sense, the vice president of the Fed, Lael Brainard, anticipated that it seeks to implement more aggressive measures in response to the acceleration of inflation in the United States. On the other hand, although this measure “combats” inflation, it puts the growth of the US economy at risk.
On Wall Street, technological were affected in their prices at the beginning of the session, however, they later managed to reverse the scenario and the nasdaq ended slightly positive, while the S&P500 and Dow Jones they rose 0.43% and 0.25% respectively.
For its part, the price of a barrel of oil registered a slight rise in New York one day after the announcement of the effective release of some 120 million barrels of oil, with the aim of channeling and leveling the demand for crude oil due to the scarce supply from producing countries.
The barrel of the WTI variety rose 0.7% and closed at 96.90 dollars; while the Brent rate gained 0.3% and settled at 101.30 dollars, according to figures published by the New York Mercantile Exchange (NYMEX).
A day earlier, the president of the United States, Joseph Biden, ordered the release of a record amount of his country’s strategic oil reserves (one million barrels per day for the next six months).
Likewise, the European Union (EU) approved its fifth package of sanctions against Russia after the invasion of Ukraine that affects the energy sector for the first time, with the prohibition of imports of Russian coal and also includes an arms embargo against Russia and the veto high-tech exports to that country.
Prices also recovered from fears that lockdowns in China due to a new wave of COVID-19 could impede a recovery in oil demand.
So far, multiple outbreaks of the virus have led to widespread lockdowns in Shanghai, China’s most populous city.
Meanwhile, natural gas contracts for May delivery rose 6.2% to settle at $6.40 per million BTU.
Source: Ambito
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