Asia Shares Dip, Oil Prices Gyrate As Ukraine Talks Make Little Progress
NDTV
Oil prices gyrated and Asian shares fell on Tuesday as Ukraine peace talks made little headway and the prospect of a ban on oil imports from Russia triggered investor fears over inflation and slowing economic growth.
Oil prices gyrated and Asian shares fell on Tuesday as Ukraine peace talks made little headway and the prospect of a ban on oil imports from Russia triggered investor fears over inflation and slowing economic growth.
President Joe Biden's administration is willing to move ahead with a U.S. ban on Russian oil imports even if European allies do not, Reuters reported on Monday, citing two people familiar with the matter.
Oil prices have already hit 14-year highs and Russia warned that prices could surge to $300 a barrel and it might close the main gas pipeline to Germany if the West halts oil imports over the invasion of Ukraine.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.4% in early trade, tracking a bruising Wall Street session. Japan's Nikkei sank 0.3% while Australian shares were down 0.24% amid a sea of red across Asian markets.
