Given this situation, the main increases, among the most traded papers, were for Exxon (+1.9%), Tesla (+1.9%) and Petrobras (+1.8%). The ETF that responds to the energy sector (XLE) rose as much as 1.8%.
The cause of the spike in crude oil is due to the fact that Russian production of oil and gas condensate touched 10 million barrels per day (bpd) on Monday, its lowest level since July 2020. This added to the sanctions and logistical limitations , continue to create barriers to trade, which drives up the value of the barrel.
For its part, the main falls were for Alibaba (-2.1%), Paypal (-1.8%) and Mercado Libre (-0.3%). Some mega-caps and technology companies were hurt by the decline in the main indices on Wall Street.
The governor of the Federal Reserve, Lael Brainard, said that although the inflation of the United States was within the forecast the central bank needs to “quickly” take over the highest price index in decadeswhich affected the growth values.
The Labor Department’s CPI report showed that the prices that urban American consumers pay for a basket of products had the biggest monthly jump since September 2005, and an annual increase of 8.5%, the highest year-on-year inflation figure in more than four decades.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
