Why did crude oil tank despite rising Ukraine tensions? [Video]
|Tensions between Ukraine and Russia escalated yesterday, sending gold to $1900 per ounce, but investors are calmer this morning, as planned talks between the US and Russia gives a certain relief before the weekly closing bell.
But the risk-taking will likely remain limited, offering a limited recovery potential to equities & cryptocurrencies.
Oil on the other hand tanked despite the rising Ukraine tensions, rupturing a well-justified positive trend between geopolitical risks and energy prices. In the FX, the safe-haven yen gained, the EURUSD remained steady as the macro pricing was put on hold.
In individual stocks, Tesla tanked 5% after it sank to the bottom of the latest Consumer Report’s ranking. Ouch.
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