as soon as the news came out, WTI crude oil once rose by about 7% on Tuesday, exceeding $128 per barrel. Russian Deputy Prime Minister Novak has previously said that if the West imposes an import ban on Russian oil, oil prices may soar to $3 a barrel.
Britain and the United States banned Russian crude oil exports, which had a greater impact on Britain than the United States. The main reason is that Britain has a high dependence on overseas energy, while the United States has a low dependence on Russia. The data shows that in 221, the United States imported only 3% of its total crude oil from Russia. In other words, the United States is one of the few countries that can help replace Russian energy exports in the medium term.
Biden has said that he will continue to work hard to reduce the pressure on American families caused by rising energy prices and reduce the dependence of the United States on foreign oil and fossil fuels. The US government has promised to release more than 9 million barrels of strategic oil reserves this fiscal year. The US government is also in dialogue with a series of energy producers and consumers on further measures that can be taken to ensure a stable global energy supply. During the Trump administration, Trump once announced that American oil had achieved self-sufficiency.
while announcing the ban on importing Russian energy, Biden successively tweeted, demanding that the government and enterprises make great efforts to develop clean energy and get rid of polluting fossil energy completely, and calling on people to buy new energy vehicles, so as to get rid of the pressure of rising oil prices and increase their family expenditure. A US government official has called on American families to buy at least one electric car.
Looking back, the Biden administration finally made up its mind to ban the import of Russian oil, which is not unrelated to forcing the popularization and development of new energy vehicles.
The theory that Russia-Ukraine conflict and US-European stocks have no influence on Asia, including Hong Kong stocks and A-shares, is a big bluff, lacking basic economic knowledge and understanding the basic composition of global economy and finance. Investors should quickly stay away from such people.
In the coming period, the global market risk with strong transaction and high liquidity will continue to increase. Even if it rebounded for a few days, it did not change the basic direction of the Nasdaq Composite Index falling into a bear market. Mainly due to the soaring oil prices, food prices, natural gas prices, nickel, neon, palladium and other semiconductor chip elements prices soared. It is not only a global inflation problem, but also an impact on industrial chain enterprises such as automobile manufacturers and smart phones.
Risk appetite drops sharply, and risk aversion rises sharply! While the highly tradable stock market fell, gold, palladium, nickel and crude oil rose sharply. On Tuesday (March 8), the commodity market led by nickel continued to fluctuate. On the London Metal Exchange, the price of nickel futures once exceeded $1, per ton, which triggered the suspension. International gold prices continue to rise, and gold futures prices stand at $2,4 per ounce.
on Tuesday, U.S. stocks continued to fall, but the decline was not as big as expected, and the reaction to Biden's government's ban on importing Russian energy was not as intense as expected. The Dow fell 184.74 points, or .56%, to 32,632.64 points. The Nasdaq fell 35.41 points, or .28%, to 12,795.55 points; The S&P 5 index fell 3.39 points, or .72%, to 4,17.7. US stocks closed down on Tuesday, which means that the Dow entered the callback area and the Nasdaq continued to drop after falling into a bear market.
what will investors do in the future? I think, don't chase high prices such as gold; Don't blindly bargain for the stock market crash. It is advisable to wait and see, and wait for the opportunity calmly!